Bitcoin Maintains $ 48,000 Amid Another Weekend Of Minimum Trading Volume (Market Watch)

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Bitcoin came close to $ 49,000 for the first time in over a week, but failed to cross it and came back to around $ 48,000. Most of the alternative coins are lightly in red, with the exception of Solana, which jumped 4% in one day to exceed $ 160.

Bitcoin maintains $ 48,000

After the volatile start of the week, in which bitcoin jumped $ 1,500 and fell $ 3,000 within minutes, the cryptocurrency has seen a steady rise in price. Within days, it rebounded from the low of $ 43,300 reached on Monday and added more than $ 5,000 through Friday.

After a brief retracement, the bulls further intensified yesterday and pushed the asset north. This time, BTC broke the $ 48,000 mark decisively and continued to climb to a daily high of around $ 48,900 (on Bitstamp).

As bitcoin prepared to challenge the $ 49,000 price line, the situation changed and the rejection that followed took it down to a daily low of $ 47,600.

Since then, BTC has recovered several hundred dollars and is currently above $ 48,000. It even comes with the minimum trading volume during the weekend. Bitcoinity data shows that the volume of trading over the past weekends has been significantly lower than on weekdays, and this time is no exception.

BTCUSD. Source: TradingViewSolana recovers $ 160

Most of the alternative parts have mimicked their leader’s performance since yesterday, with many of them slightly in the red. Ethereum failed at $ 3,500, and a 1.5% one-day retracement took the second largest crypto to around $ 3,450.

Cardano, Binance Coin, Ripple, Polkadot, Dogecoin and Chainlink also recorded minor losses in one day. Avalanche (-5%) lost the most after two consecutive days of record painting prices. However, AVAX is still above $ 70.

Solana is the only coin with more impressive gains from the largest caps. A daily increase of 3% pushed the token above $ 160.

Overview of the cryptocurrency market. Source: quantifying crypto

Low and mid cap altcoins are also unusually stable. Cosmos is the only double-digit daily winner with an 11% increase. Plus, ATOM is up 40% in a week and hovering around $ 40.

The cryptocurrency’s market capitalization was also relatively stable in one day at around $ 2.150 billion.

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