Crypto market momentum is seen to be slowing down after days of steady gains, and most altcoins are starting to register a slight decline. Nevertheless, market sentiment remains positive, with several altcoins maintaining their stellar performance.
The $30K trading level is an important level for Bitcoin's rise, not only from a technical point of view but also from a psychological point of view. It becomes an important trading level that market players monitor.
At the time of writing BItcoin price is trading at $30,141.94, down 0.08% in 24 hours but has strengthened 17.4% on the week.
BTC price is now at accumulation level after a big surge and most market players are taking a wait and see attitude.
Meanwhile, Bitcoin dominance continues to rise, and it stands at 48% compared to yesterday's 47.7%. Bitcoin "dominance" is a metric that tracks Bitcoin's dominance over the rest of the market, and it is rising, indicating that BTC is outperforming altcoins.
Markets were mostly covered in the red today, with the majority of altcoins posting modest gains. This may be expected following the large rally over the past few days.
Meanwhile, memecoin PEPE dominated the market by gaining over 10% in the past 24 hours, bringing its total gains to 70% for the week. Not to be outdone was altcoin KASPA with a 9% increase, followed by Bitcoin SV (BSV) with 8.9%.
On the other hand, Stacks (STX), fell 8.2% and showed the worst performance over the past 24 hours, followed by FLOW (down 7.3%), and ApeCoin (APE) down 6.4%.
Overall, it will be interesting to see how the market will change.
