The weekend didn’t see much gains for cryptocurrencies as it remained somewhat stagnant. Some ripples were expected for an uptrend but that didn’t actuate. On Sunday, bitcoin touched $42,300 but slumped soon after, losing whatever gains it had made.
But it has managed to stay above the $40,000 mark. At the time of writing this article, bitcoin was trading at $40,836. It has lost 2.63% in the last 24-hours as per CoinMarketCap. The past seven days saw BTC’s high volatility in motion. It soared by $3,000 but fell just as rapidly and vigorously as it had gained. The world’s most popular cryptocurrency slipped and crossed the $40,000 mark several times. Analysts say the bulls have been keeping pressure.
Ethereum, the world’s second most popular cryptocurrency, has lost 2.82% in the last 24-hours. But it has gained nearly 10% in the last seven days. Currently, its changing hands at $2,843. As for the altcoins, many are in the red. Avalanche has lost nearly 4%, Solana is down by 3.49%, and Polkadot has lost 3.27%. Cardano is down by 2.60%. However, Terra LUNA has gained 2.17%.
Analysts believe that BTC, LUNA, and AVAX might see a bullish trend this week. The previous week was productive and the crypto market is hopeful to retain the same spirit for more gains. This will prove productive for investors as well. With the market gaining momentum, cryptocurrencies will gain in value.