Bitcoin price failed to break above $44,000. At the time of writing, BTC is changing hands at $43,116.
BTC/USD 4-hour chart | Source: TradingView
Bitcoin price maintains range of $42,000
Bitcoin tried to trade at $44,000 hours ago but was stopped. It is just days before the major cryptocurrency hits weekly highs at $44,500 following an attack from bulls trying to recover most of the losses from last week.
However, the bears came to play and did not allow any further increase. In contrast, BTC started a rapid decline in price and dumped $2,500 within hours. This resulted in breaking $42,000 for the third time in less than seven days.
The property responded well and raised over $1,000 to reclaim $43,000, as reported yesterday. It fell below that level again in the following hours before starting another leg, leading to almost $44,000, but to no avail.
BTC once again stands at around $43,000 and its market cap sits above $800 billion.
Most of the larger-cap altcoins remain relatively calm on a daily basis. Ethereum sustains $3,300 after a slight 24-hour gain. Binance Coin hit $500 yesterday but just below it now. Most altcoins are in the light green, with Cardano standing out as the biggest gainer against larger caps with an 8% gain above $1.35.
Solana, Polkadot, Avalanche and Terra have more impressive gains. SOL is up 3%, DOT is up 4%, LUNA is up 5% and AVAX is up 4%. Cardano is the most significant gainer from the larger cap stocks. Since yesterday, ADA is up about 8% and is trading above $1.35.
In contrast, the two most important memes have lost the most value. Dogecoin drops another 5% following the hype on Friday when Tesla enabled DOGE payments for its products. Shiba Inu (SHIB) is down just over 1% in one day.
More gains came from Fantom (12%), Confidential (10%), Token (8%), Osmosis (6.5%), Economi (6%) and others. The cryptocurrency market cap is close to $2.1 trillion.
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