Bitcoin has yet to produce any significant price movement in the market and remains stuck around the $21,000 level.
Alternative cryptocurrencies are also seen as stable on a daily scale, in contrast to Bitcoin Cash which appears to be one of the few exceptions.
The extreme bearish sentiment of the past week has pushed bitcoin further down, falling by over $4,000 in a few days. So far BTC has shown no signs of rallying this week, at least for now.
The last big price move happened over the weekend when BTC plunged to a three-week low of $20,800 (on Bitstamp).
Yet when BTC touched the push level, it responded well to this decline and came back to reclaim the $21,000 trading level. Since then, BTC has relatively stayed around that trading level with several attempts to bounce back from that level. So far, BTC has only managed to record a price above $21,000, and its market cap is still above $400 billion.
Several crypto exchanges began to complain that demand for services began to decline after the controversial LUNA issue. The Bitcoin MVR Triple Ribbon (consisting of the 3MA) suggests that the cryptocurrency's lackluster price movement could continue over the next few weeks.
In addition, surprisingly Bitcoin Cash posted a 7% surge amid most alternative cryptocurrencies failing to produce significant price changes in the past 24 hours as well.
Ethereum is also volatile. So far it has been driven by the impending 'merging' sentiment that has pushed ETH to multi-month highs above $2,050 in the past ten days. ETH lost over $500 over the next week or so and is now trading above $1,600 after a small daily increase.
Ripple, Polkadot, Shiba Inu, and Avalanche are also in green now. On the other hand, Binance Coin, Cardano, Solana, Dogecoin, and Polygon have recorded insignificant losses. The overall crypto market cap has successfully defended the $1 trillion level.
In the crypto industry, Celsius decided to respond to KeyFi's claims by launching its own legal case. Additionally, major US-based crypto exchange Coinbase faces yet another lawsuit.
