Bitcoin suffered a decline towards the close of July, however still managed to bounce off the $29,000 support line and has added several hundred dollars since then.
Although altcoins with large capital markets such as TRX, DOGE, MATIC, and SHIB are slightly in the red zone today, Bitcoin Cash, Bitcoin SV, and Optimism surged quite impressively.
The major crypto had a quiet week after the price fell by more than a thousand dollars last Monday, which took it to a monthly low below $29,000. Optimistic market players managed to calm the situation in the next few days, and the asset is slightly above that price line.
Even the US Federal Reserve's decision to raise key interest rates on Thursday did not bring significant volatility. Therefore, bitcoin remained below the $30,000 price level until the close of last week. However, BTC plunged back to the $29,000 figure and even below it for a while within 24 hours but managed to survive at the $29K level. Currently, this crypto has lost some momentum but is still trading above $29,000.
The market capitalization has risen to slightly above $570 trillion, and its dominance over altcoins is at 48.2%. Most recent altcoins have mimicked BTC's movement patterns, i.e. have produced very little volatility. Ethereum and Ripple are slightly in the red zone, while Binance Coin has recorded an insignificant increase.
Dogecoin, Solana, Polkadot, Polygon, and Shiba Inu experienced declines of between 1-2%, while TRX was down the most of the other altcoins. Tron is down more than 4% and is below $0.08. On the other hand, BCH jumped 4.3% and has returned to $250. Optimism Token, which is one of the good performers is up more than 7% today and is trading above $1.7. Bitcoin SV appeared with a huge double-digit price increase that has pushed it to the $40 figure.
