Bitcoin’s lackluster price performance continues as the asset dropped below $58,000 once more and has barely rebounded to just over $59,000. Most larger-cap alts are in a similar state, with ADA, NEAR, and TRX declining by more than 2% daily.
### BTC Struggles to Maintain $59K
The past week hasn’t been favorable for the primary cryptocurrency despite some initial promising signs. Last Friday, Bitcoin surged from $60,000 to over $64,000 by Saturday due to positive developments in the US. It even reached a three-week high above $65,100 on Monday, but things started to go downhill. By Wednesday, Bitcoin had shed more than seven grand of its value, sinking to $58,000. An unsuccessful bounce to $61,200 on Thursday led to another decline yesterday, reaching $57,750 on Bitstamp, the lowest price in about two weeks. Although Bitcoin has managed to defend that level and recover more than a grand in value, it’s still down 0.5% on the day and a significant 8% since last Saturday. Its market cap has fallen below $1.170 trillion, with dominance around 54% on CG.
### FET Defies Market Movements
Most larger-cap alts have mirrored BTC’s recent performance, with minimal action but mostly in the red. SOL, TON, SHIB, and AVAX are down by just over 1%, while TRX, ADA, and NEAR have dropped by up to 3%. In contrast, ETH, XRP, DOGE, and BNB have posted minor gains. The most notable increases among larger-cap alts come from LTC and UNI, each gaining around 3%. However, FET and AAVE have stood out with price gains of 6-8%. FET has approached $1.2 after its daily surge, while AAVE is above $132. The total crypto market cap has seen another $15 billion wiped out daily, dropping to $2.175 trillion on CG.
Twitter text: “Bitcoin struggles below $59K as major altcoins also face declines. FET and AAVE stand out with notable gains. #cryptocurrency #Bitcoin #FET #AAVE”
