Arbitrum fell by 25 %weekly, Bitcoin slipped to a low month: market observation

Arbitrum fell by 25 %weekly, Bitcoin slipped to a low month: market observation

Bitcoin rose to $ 28,000 yesterday, but the immediate rejection pushed it back to $ 27,000 to achieve an almost 1-month low.

The alternative coins are not in any better constitution, since some, such as ARB and FXS, collapse by over 25 % weekly.

Bitcoins new local deep

BTC fell below $ 30,000 days later and started losing rapid value last week. This led to a decline to $ 27,500 until Friday and Saturday. After a few days of the sideways trade, BTC tried to pump the price to $ 28,000, but was stopped after he tapped this line.

The rejection brought it down to a giant, and Bitcoin had the lowest price position for almost a month with $ 27,000. Since then it has made some ground well and kept this level, but it was still 8 % a week.

Its market capitalization has stalled at $ 530 billion, while its dominance over the old coins is 46 %.

btcusd. Tradingview

Arb, FXS Dump Hard Weekly

The alternative coins were also traded much higher a few weeks ago, but lost most of this dynamic. ETH, for example, rose to over $ 2,100 after completing the Shapella update, but has lost about $ 300 since then. As a result, the second largest cryptocurrency is currently struggling to stay over $ 1,800.

Most of the large cap alternatives are in the minus on day scale. This includes Ripple, Cardano, Dogecoin, Solana, Polkadot and Shiba Inu. Polygon fell most (3 %) and is below $ 1.

avalanche is one of the few alternatives in the green area, won 3 % that day and jumped to $ 17.

On a weekly perspective, the situation with Arbitrum and Frax Share is most painful. Both assets have dropped by over 25 % to $ 1.3 or less than $ 8.

The entire crypto market capitalization has remained in $ 1.150 trillion.

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