Bitcoin briefly dipped below $26,000 yesterday, but quickly recovered after news of MicroStrategy's latest BTC purchase. Most altcoins showed small gains today, with XRP gaining 2% and returning to $0.5.
The past week has been more encouraging for BTC holders as the asset has hit a 20-day high of $27,500 hit on Tuesday. Despite managing to maintain a position near that level on Wednesday, BTC began to experience a rapid decline in value over the trading weekend, especially after the latest FOMC meeting by the Fed.
This decline led to the price falling to the $26,400 level. However, the price of BTC was in the expected stability throughout the weekend being around $26,600. However, the start of the week started with negative sentiment as the news of a price drop appeared, making the cryptocurrency touch a 12-day low of just above $26,000.
Despite this, the news of the latest BTC collection by MicroStrategy has given a positive reaction to this cryptocurrency, prompting a jump of several hundred dollars. Despite failing to maintain its performance, the price of Bitcoin still remains above the $26,000 level. The market capitalization has once again crossed the $510 billion mark, and its dominance over altcoins stands at 48.9%.
Most altcoins suffered small losses yesterday, but the situation is different today. Ethereum, Cardano, Binance Coin, Dogecoin, Tron, Polygon, and LEO are in the green zone, albeit with modest increases. Ripple has increased in value by 2% and returned to the $0.5 level. Bigger gains were also made by Bitcoin Cash (3.6%) and Chainlink (3%).
On the other hand, there have been rumors that many of the players in the crypto industry in the U.S. are starting to look for new sites, especially in Europe.
