Bitcoin Stuck Below $31K, While FIL and GRT Skyrocket By Double Digits (Market Watch) Bitcoin continues to remain sideways and has not made a move in the past 24 hours. Most altcoins have produced slightly more impressive gains within the sa timeframe, with ETH nearing $2,000 and DOT jumping by almost 5%.

Bitcoin Calms Bitcoin registered impressive gains two weeks ago when it climbed to over $31,000 for the first time in months after BlackRock filed to launch a Spot BTC ETF. After gaining over $4,000 in days, the cryptocurrency calmed and spent most of last week trading in a range between $30,000 and $31,000. It dumped hard on Friday to a 10-day low of $29,500 on reports that the SEC has issued warnings against all recent Spot BTC filings. However, the bulls intercepted the move and didn't allow any further declines.

Just the opposite, bitcoin spiked by a grand and went back up to $30,500. The weekend was significantly less eventful as BTC remained stuck at around that level. So far, Monday doesn't seem all that different, with the asset sitting around that line once more. Consequently, its market cap has remained below $600 billion, while its dominance over the alts has taken another hit and is down to 49.2% on CMC. This means that the metric has declined by 1% in a few days.

FIL, GRT Take Main Stage Ethereum has jumped by 2.5% in the past 24 hours, which has helped it near the coveted $2,000 line. Binance Coin is close to $250 after a 1.5% increase within the same timeframe. Ripple, Cardano, Dogecoin. Litecoin, Solanna, Tron, and Bitcoin Cash are also slightly in the green. Polkadot, Polygon, and Avalanche have added more val in the past day, with gains of up to 5%.

The most substantial gainers on a daily scale, though, are Filecoin and The Graph. FIL has soared by 16% to over $4.5, while GRT has exploded by 25% to above $0.13. As such, the total crypto market cap has managed to add another $10 billion in a day and is above $1.210 trillion now on CMC.

Bitcoin Remains Below $31K, While FIL and GRT Experience Significant Price Surges (Market Watch)

Bitcoin continues to trade sideways, showing no significant movement in the past 24 hours. Meanwhile, several altcoins have experienced notable gains during the same period, with Ethereum approaching the $2,000 mark and DOT surging by nearly 5%.

Bitcoin's Stability

Two weeks ago, Bitcoin made an impressive rally, surpassing $31,000 for the first time in months following BlackRock's filing for a Spot BTC ETF. After gaining over $4,000 in just a few days, the cryptocurrency entered a more stable phase, mostly trading within the $30,000 to $31,000 range last week. However, it experienced a sharp drop on Friday, reaching a 10-day low of $29,500, reportedly due to the SEC issuing warnings regarding recent Spot BTC filings. Nevertheless, the bulls stepped in and prevented further declines.

Bitcoin's Current Status

Contrary to the previous drop, Bitcoin quickly rebounded to $30,500. However, the weekend saw little activity, and Bitcoin remained stuck around that level. As of now, Monday seems to be following a similar pattern, with Bitcoin hovering around that mark. Consequently, its market capitalization remains below $600 billion, and its dominance over altcoins has decreased to 49.2% on CMC, indicating a 1% decline within a few days.

FIL and GRT Surge

While Ethereum has risen by 2.5% in the last 24 hours, inching closer to the highly anticipated $2,000 milestone, other cryptocurrencies have also experienced modest gains. Binance Coin has reached approximately $250 after a 1.5% increase within the same timeframe. Ripple, Cardano, Dogecoin, Litecoin, Solana, Tron, and Bitcoin Cash have all seen slight gains as well. However, Polkadot, Polygon, and Avalanche have shown more significant growth, with gains of up to 5%.

FIL and GRT

The most remarkable gains in the last 24 hours have been observed in Filecoin (FIL) and The Graph (GRT). FIL has surged by 16%, surpassing $4.5, while GRT has experienced an explosive growth of 25%, reaching above $0.13. Consequently, the total crypto market cap has increased by $10 billion in a day, reaching above $1.210 trillion on CMC.

#crypto2023

Bitcoin has stabilized after experiencing significant volatility on Friday, fluctuating by over $1,000. It is currently trading relatively unchanged at $30,500. The altcoin market is also exhibiting reduced volatility, which is typically observed during weekends. Among the larger #crypto currencies, Solana (SOL) stands out as the highest gainer.

Bitcoin's Recent Performance:

Last week, Bitcoin witnessed a surge from $26,500 to over $31,000, marking a new multi-month high. While the bears attempted to intervene, their efforts only managed to temporarily halt BTC's price momentum. As a result, Bitcoin has been trading within a range of $30,000 to $31,000 for approximately the past seven days. However, on Friday, reports surfaced suggesting that the Securities and Exchange Commission (SEC) might reject recent applications for Bitcoin Spot ETFs submitted by prominent institutions like BlackRock and Fidelity due to the alleged lack of critical information.

Bitcoin's Reaction and Current Status:

In response to the news, #bitcoin experienced an immediate downturn, dropping from over $31,000 to a 10-day low of $29,500 on Bitstamp. Nevertheless, the bulls quickly regained control, leading to a recovery back to $30,500 on Saturday. Over the past 24 hours, Bitcoin has maintained relative stability around this level. Its market capitalization remains just below $600 billion, and it continues to dominate the altcoin market with a 50% share.

It is important to conduct thorough analysis before engaging in trading activities. Understanding the market conditions, trends, and potential risks is crucial for making informed investment decisions.