ALBAWABA - The cryptocurrency market capitulated in the past week, losing well over $100 billion as BTC’s price remained unable to reclaim the $28,000 level.
Bitcoin managed to recover a slight 1 percent in the past 24 hours, but is still down a lot over the week, Crypto Potato reported.
"The cryptocurrency is unable to reclaim the $28K, and it’s apparent that the bulls are struggling to regain control," it said. It pointed out that over the past week, it lost about 9 percent, but still managed to significantly outperform the rest of the market.
"This is evident in Bitcoin’s dominance – the metric used to gauge its share relative to that of the rest of the market," said Crypto Potato, a world leading source in news, analysis and information for investment on digital currency, established by crypto early adopters in 2016.
Bitcoin Hovers Near $28K After Binance Sell Order
BTC fell as low as $27,830 earlier today.
ETH dropped below $2,000 for the first time in almost a week. #cryptocurrencies pic.twitter.com/xH8gHGSHVU— Darwin Protocol (@Darwin_Protocol) April 21, 2023
As of Sunday, Bitcoin stood at 44 percent, up 4 percent during the past seven days. "This suggests that BTC managed to perform a lot better than altcoins," it said.
Radix (XRD) is up 30.9 percent during the past seven days, gaining around 13 percent in the past day alone. Crypto Potato said the "cryptocurrency still lost a lot of value during that period but remains the absolute best performer in both time frames."
$186m of liquidations as #Bitcoin falls below $28k ? pic.twitter.com/NpMJapYBT3
— CryptoSavingExpert ® (@CryptoSavingExp) April 22, 2023
WOO Network (WOO) is also up around 11.5 percent, followed by BitTorrent (BTT), which is up 6 percent. On the other end of the spectrum, there’s Arbitrum’s ARB, which lost around 2.3 percent.
"In general, the market was relatively flat throughout the past 24 hours," Crypto Potato reported.
