Crypto Market Cap Maintains $1t While Bitcoin Stands Above $22,000: Weekend Watch

Crypto Market Cap Maintains $1t While Bitcoin Stands Above $22,000: Weekend Watch

Bitcoin tried to regain some of its recently lost value in the last 24 hours but was halted and has fallen back to $22,300.

The altcoins are pretty stagnant throughout the day, and EOS is losing all of its gains from yesterday.

Bitcoin holds $22,000

Last weekend's low trading volume helped keep Bitcoin mostly around $23,000. At the start of the working week, the asset rose to $24,000. In fact, BTC managed to reach this level once on Wednesday, but that was a short and unsuccessful attempt to recapture it.

The cryptocurrency remained stuck in a range between $23,000 and $24,000 for most of the week through Friday. Here the landscape changed amid the Silvegate troubles. Bitcoin plunged over $1,000 in minutes, falling to an 18-day low of just under $22,000.

Nevertheless, some crypto analysts continue to discuss the possible reasons for this decline. Still, BTC managed to bounce back and regain some value. Over the weekend it even rose to $22,600, but failed and fell back to $22,300.

Its market cap has remained around $430 billion and its dominance over alts is just over 42%.

BTCUSD. TradingView

Alts stay calm

The alternative coins experienced similar volatility on Friday as most turned red, but the last 24 hours have been fairly uneventful. Ethereum, RippleOKB, Cardano, Dogecoin, Polygon, Polkadot and Shiba Inu are with minor daily losses.

EOS was the best performer yesterday but has lost almost all of its gains today and is trading back to $1.2.

Further losses are evident in Avalanche, Toncoin, Stellar and others. In contrast, QNT has added 3% in value and is trading at nearly $130.

Despite the painful days at the end of the week, the crypto market cap has managed to defend the coveted $1 trillion line.

Overview of the cryptocurrency market. Quantify crypto