According to CryptoPotato, Bitcoin experienced a quiet weekend, fluctuating between $66,000 and $66,500, but failed to break out of the upper limit. Concurrently, altcoins such as AVAX, NEAR, and UNI also saw a downward trend.
Bitcoin began the previous business week attempting to surpass the $70,000 mark after a calm weekend. However, the bears quickly intercepted the move, pushing the asset down by four thousand dollars. This occurred ahead of the US CPI numbers and the subsequent FOMC meeting. When the inflation data was released and exceeded expectations, Bitcoin surged back to $70,000. However, the Federal Reserve's decision not to follow the European Central Bank's example in lowering interest rates led to another decline. Bitcoin then fell to a monthly low of $65,000. Despite this, Bitcoin managed to regain some ground by the weekend, rising to just over $66,000. It remained at this level for the next 48 hours, but failed in its attempt to reach $67,000 earlier today. Currently, Bitcoin stands just above $66,000 after a minor retracement.
The market cap of Bitcoin remains at $1.3 trillion, and its dominance over altcoins has slightly increased to 51.4%. Following Bitcoin's example, most of the larger-cap altcoins have also turned red. ETH, BNB, and TON have declined by less than 1%, while DOGE, ADA, and LINK have dropped by slightly over a percentage. DOT has managed to defend the $6 support line, while DOGE, AVAX, SHIB, BCH, NEAR, UNI, and IMX have seen significant drops, with IMX falling by up to 7%. FET has lost the most value among the larger-cap altcoins, dropping by 10% to $1.3. SOL, XRP, TRX, and KAS have made insignificant gains. However, the total crypto market cap has lost over $30 billion in a day.