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Bitcoin initiated a significant increase, rising from $27,000 to $28,600 at the beginning of the week after a slow weekend.
Consecutive rejections caused it to drop by nearly $1,000 this time. As a result, Bitcoin is currently trading around $27,500.
Solana, Cardano, Litecoin, and Avalanche are also slightly in the green. In fact, AVAX has increased by approximately 7% and is currently holding strong above $10.
Bitcoin price faced a renewed pressure above $28,000 and continued its downward move; Altcoins attract attention with their upward movements.
Bitcoin Faces Pressure Above $28,000
Bitcoin attempted to test the $28,000 level at the beginning of the week but was quickly halted, returning to $27,500. Most altcoins are trading sideways, with ADA and SOL gaining a few percentages while ETH and BNB retreated slightly.
Bitcoin initiated a significant increase, rising from $27,000 to $28,600 at the beginning of the week after a slow weekend. While the community expected the bull run to resume, the cryptocurrency started losing value.
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In just one day, the asset lost over a thousand dollars and fell below $27,500 by Thursday. Another attempt was made, and BTC briefly exceeded $28,000. However, it failed to continue upward. Consecutive rejections caused it to drop by nearly $1,000 this time. As a result, Bitcoin is currently trading around $27,500.
As expected, the market capitalization experienced some losses and dropped below $540 billion on CMC. However, its dominance over altcoins slightly increased to 49.6%.
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TON, AVAX, and TWT on the Rise
As reported yesterday, Toncoin had significant gains at the end of September but lost momentum with the start of the new month. However, the trending altcoin resumed its offensive in the last 24 hours. TON increased by approximately 9% and helped it reclaim the $2 level.
Solana, Cardano, Litecoin, and Avalanche are also slightly in the green. In fact, AVAX has increased by approximately 7% and is currently holding strong above $10. Trust Wallet Token (TWT) also approached the critical price level of $1 with a 6% increase.
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In contrast, ETH, BNB, XRP, and TRX experienced slight losses. However, overall, most high market-cap altcoins are relatively stable on a daily basis. As a result, the total cryptocurrency market capitalization remains at around $1.080 trillion on CMC.
