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Bitcoin (BTC) Loses $26K Again, Stellar (XLM) Defies Market Sentiment: Weekend Watch

Bitcoin Neared $27K But These Altcoins Are Outperforming BTC: Market Watch

Bitcoin experienced a temporary spike above $26,400 yesterday but quickly returned to its familiar position below $26,000.

Today, altcoins such as BNB, ADA, and SOL are also slightly down, decreasing by over 1%.

BTC Fails at $26K

Bitcoin’s price performance has been lackluster for the past 10 days. After a $2,000 increase and a subsequent $3,000 drop following Grayscale’s win over the SEC, the asset reached an 11-week low of $25,350. Bulls stepped in at that point, allowing bitcoin to recover slightly by last weekend, hovering under $26,000.

Since then, the cryptocurrency has remained stagnant until yesterday when it briefly surged to a multi-day high above $26,400.

However, this breakout turned out to be false, and BTC has once again fallen below $26,000, losing its momentum. Its market cap is barely above $500 billion, and its dominance over altcoins is now at 48.3%.

BTCUSD. Source: TradingView

XLM in Green

Most altcoins have followed BTC’s recent performance, experiencing minor gains and subsequent retracements. Ethereum, Ripple, Dogecoin, Tron, Polkadot, Polygon, and Shiba Inu have all declined by up to 1%.

Coins like Binance Coin, Cardano, Litecoin, and Solana have also suffered losses, with SOL dropping by about 2%.

However, Stellar’s native token, XLM, is an exception. It has increased by over 4% in a day and is currently trading above $0.13.

Naturally, the total market cap has also dropped back down to $1.040 trillion on CMC after yesterday’s gains.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto