Despite The Price Dips, Bitcoin’s Consolidation Range Continues: Report

Despite the price dips, Bitcoin’s consolidation range still continues while BTC trades around $39,000 despite the brief price drop below $38,000. On the other hand, LUNA is up by 8% in one day as we can see more today in our altcoin latest news.

Bitcoin slumped to a weekly low briefly below $38,000 but despite the price dips, then reclaimed the lost ground and returned to a familiar level of around $39,000. the altcoins are in the red today with a few exceptions like Terra. In the middle of last week, Bitcoin launched a leg up after Biden’s executive order on crypto regulations which led to a surge of $43,000. however, the trip on the north was short-lived and the bears came back to the scene.

In the following hours, BTC Lost about $3000 and dropped to $39,000 but since then, the asset remained stuck near the line with only a few price pumps and dumps. The latest example came a few hours ago when the primary cryptocurrency dropped by $1500 to the lowest point since March 7 which was set at $37,500. it bounced off and now stands around $39,000 once again with Tesla’s CEO saying that he has no plans to dispose of his holdings in BTC, ETH, and DOGE. Bitcoin’s market cap has remained under $750 billion.

The altcoins were in a similar situation as BTC with some minor moves in the past day as Ethereum struggles below $2600 after a short drop below $2500 earlier today. Rippel lost the most value in the past 24 hours after the recent price increase over the weekend. XRP is now down by 3.5% and sits below $0.8. Polkadot, Avalanche, Binance Coin, DOGE, SHIB, MATIC, CRO, and ATOM are in the red as well while Cardano and Solana marked minor gains. Terra is the biggest gainer with an 8% increase while LUNA trades above $90 and the marekt cap is around $50 billion since the low of $1.750 trillion.

Over the weekend, Ripple’s XRP was the only one that made a serious increase. Bitcoin’s consolidation and price didn’t produce any meaningful gains and sustained the move in either direction while it is trading where it was during this time yesterday at $39,000. This doesn’t mean that there was not any volatility.