Bitcoin’s price performance over the past 24 hours is hardly surprising given the lower trading volumes during the weekends, and the asset has not moved an inch from its $26,000 level.
The altcoins are also highly stagnant on a daily scale, but some have posted notable losses since last Sunday.
BTC Boring at $26K
Bitcoin was in a similar situation last week – meaning it had stalled for weeks at around $29,000 – before a sudden price dump took it south by over $3,000 to chart a two-month low. It tried to recover some of the losses but eventually settled at $26,000.
The previous weekend was uneventful, and the asset stood quietly at around that line again. Nothing really changed at the start of the business week, and BTC failed to make a move.
It finally did on Wednesday when it dipped by over $500. However, the bulls quickly intercepted the move and pushed the cryptocurrency north. This Thursday brought a more notable price increase that drove bitcoin all the way up to $26,800.
Author: Jordan Lyanchev