To say that the price action within the cryptocurrency market this week was underwhelming would be the understatement of the year. Most of the top altcoins are charting losses as Bitcoin's price remains completely flat for the past seven days. In fact, Bitcoin's volatility has been so insignificant that on a 10-day average, it's about to become less than that of stocks and even gold. That's right – the "highly volatile" Bitcoin that's unpredictable and "risky" has seen less action than … gold. But it is what it is, and BTC has absolutely failed to produce any substantial movement in the past week, losing a slight 0.2%. Elsewhere, the altcoins are bleeding out. XRP is down 7%, ADA is down 5%, SOL – 5.4%, TRON – 7.3%, MATIC – 5.6%, and so forth. This has helped Bitcoin's dominance. To those unaware, this is the metric which tracks its share relative to that of the rest of the market. It increased by 0.5% in the past seven days, which highlights exactly how weak altcoins are at the moment. |
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