Stable Cryptocurrency Markets Fail to Show Volatility

In the past 24 hours, the cryptocurrency markets were extremely stable and failed to show any volatility.

Bitcoin continued to trade sideways, but it was prevented from getting close to $20,000. The altcoins are in the same position; there have been no significant changes in either direction.

Bitcoin Price Still Below $20K

Last week, which was also the end of BTC's horrific Q2, brought more volatility than the past few days. At that time, the cryptocurrency was falling hard and dropped to a 10-day low of under $18,800.

The bulls temporarily seized control of the market at this point and pushed the asset north. In a short period of time, bitcoin found itself trading almost $2,000 higher (close to $21,000).

The bearish market sentiment continued, and BTC dropped below $20,000 shortly after. It retraced to around $19,000 where it spent most of the weekend.

Yesterday, Bitcoin briefly reached $19,600, but was quickly halted and is now back to its usual range. As such, its market cap remains around $365 billion and the dominance of alts over it is again 42.2%.

BTCUSD. Source: TradingView

Altcoins Stay Steady

Like BTC, most of the altcoins are unusually stable, and they have been so for days. Ethereum, for example, is still trading around $1,050. Before the weekend began, ETH was close to dropping below $1,000 and before that it hovered above $1,100.

BNB is still below $220, ADA is at $0.45, and MATIC has dropped by 4% on a daily scale. In contrast, Ripple, Solana, Dogecoin, Polkadot and Shiba Inu have recorded insignificant gains.

TRON recorded the biggest growth (4.3%) in a single day and is trading above $0.065. LEO rose by almost 3% and is close to $6. The Sandbox has seen the most impressive leap of 5% from lower- and mid-cap alts

The market cap of all crypto assets has remained stagnant at just over $850 billion.

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