Bitcoin’s price has stabilized around $27,000 after dropping below that level a few times this week.
Most altcoins are relatively quiet today, except for Tron, which has experienced a double-digit surge.
BTC Remains at $27K
Although Monday began with positive news, as the US government reached a debt ceiling agreement and BTC rose to a two-week high of $28,500, the week didn’t end well for the asset.
After being rejected at that level, it initially dropped back down to $28,000. However, a $1,000 price drop followed, causing it to plummet to $27,000. Over the next two days, there were a few more dips, with the second taking BTC to a weekly low of $26,500 on Friday.
Despite this, BTC was able to bounce back quickly and reclaim $27,000 by the end of the day. It has since remained relatively stable and is currently just above that level.
As a result, the cryptocurrency’s market capitalization remains at the same level as yesterday, just over $525 billion. Its dominance over the altcoins, however, has taken a small hit and is now under 46%.
TRX Takes the Lead
Over the last 24 hours, altcoins have stabilized much like bitcoin. Ethereum spent some time below $1,900 this week but has managed to reclaim that level after a few minor daily increases.
Ripple and Cardano have both risen by around 1-2% in the last 24 hours, while DOGE, SOL, LTC, and DOT have increased by less than 1%.
Tron, on the other hand, has taken the spotlight with a massive 10% surge. As a result, TRX is trading at nearly $0.085.
Lido DAO’s native token has also risen significantly, by 5%. As a result, LDO is nearing $2.3.
The total crypto market cap has increased by about $10 billion in a day and is nearing $1.150 trillion.