Similar to the previous weekend, bitcoin’s price has stagnated again on Saturday and Sunday, with little to no action over the past 36 hours or so.
Most larger-cap altcoins have remained sluggish as well, unlike small gains from HYPE and TRX. XMR, on the other hand, continues its freefall after the mid-week all-time high.
BTC Stable Despite Political Turmoil
As mentioned above, the previous weekend was quite dull, with BTC trading sideways around $90,500. However, it broke out on Monday and confirmed it on Tuesday when it flew past $92,000 with force. Its price gains continued on Wednesday when it tapped a multi-month peak of $98,000.
After gaining around $8,000 in less than a week, bitcoin lost some of its momentum and slipped below $94,500 on Thursday. It rebounded on Friday and has remained above $95,000 ever since. What’s particularly interesting about this price stagnation is the fact that the geopolitical tension has skyrocketed since Friday.
First, several EU nations sent troops to Greenland after Trump’s most recent remarks. Then POTUS announced a new set of 10% tariffs on all those eight EU nations. The Union lawmakers responded with an emergency meeting today, and threats about pulling out of the ongoing trade deal.
BTC has remained unfazed and still stands at around $95,000. Its market cap is $1.9 trillion as of press time, and its dominance over the alts is at 57.3%.
Weekly Gainers and Losers
TRX has emerged as the top gainer from the larger-cap alts since yesterday, surging by 3% to almost $0.32. HYPE and XLM follow suit, while XMR has tumbled by 10% once again to well below $600. CC, PUMP, and ZEC are also in the red daily.
The weekly scale is quite favorable for ETH. The second-largest crypto has soared by 7% and sits above $3,300. BNB, SOL, LINK, TRX, and even XMR, are also in the green since this time last Sunday. In contrast, XRP, DOGE, BCH, and LTC are deep in the red.
Nevertheless, ICP has soared the most since last Sunday (25%), while POL has lost the most value within the same timeframe (-18%).
The total crypto market cap has slipped slightly over the past day, but it’s still above $3.3 trillion on CG.
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