Bitcoin's rally towards $27,000 suddenly came to a halt as the asset returned to its usual levels around $26,000.
Most altcoins also suffered losses today after a brief rally yesterday, with SOL, XRP, SHIB, and MATIC among the biggest hit among the larger market caps.
Bitcoin experienced significant volatility last Thursday when its price dropped more than three thousand in a day to a two-month low of $25,300. However, it managed to overcome the decline and returned to $26,000 and remained at that level for several days without any significant events.
Interestingly, investors with larger capital have used this opportunity to accumulate more bitcoins.
BTC started to gain momentum on Thursday and surged to a 6-day high of $26,800. Although the community is excited again, bitcoin is starting to lose its momentum and has lost almost all of its gains. Thus, the cryptocurrency BTC has returned to $26,000.
The market capitalization for Bitcoin has returned to less than $510 billion, while dominance over altcoins remains at a relatively stable level of 48.3% in CMC.
Altcoins also posted some gains yesterday, but they didn't last long. More daily losses came from Binance Coin, Cardano, Dogecoin, Tron, Polkadot, MATIC, and Litecoin, all down around 2%.
Solana, Ripple, and Shiba Inu have fallen by 3-5%. SOL is close to breaking below the $20 price level after a daily decline of 4.5%.
Low- and mid-cap altcoins were similar, with LDO, APT, and MKR down more than 5%. However, PEPE performed worst on the daily scale, having lost more than 20% of its value amid unfavorable speculation.
The total crypto market capitalization has decreased by more than $10 billion and returned to $1.050 trillion in CMC.
