Bitcoin Stable at $42,000, Cardano Soars 30% Weekly (Market Watch)

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After another failed attempt to rise above $44,000, bitcoin retraced once more and fell below $43,000. Most altcoins are also in the red on a daily scale, while Cardano continues to post impressive gains after a double-digit surge.

Bitcoin remains between $42,000 and $44,000

Heading into the Friday weekend, the major cryptocurrency fell $2,000 to bottom below $42,000 after failing to reclaim $44,000. As the bears tried to bring more mass pain, the bulls came out to play next.

Within hours, they drove the asset north to over $43,000 on Saturday, as reported by CryptoPotato. The landscape looked even more positive on Sunday morning with a jump to just under $44,000.

But, as happened in the previous few attempts to overcome this line, BTC failed. It dropped a few thousand dollars and has remained below $43,000 since then.

BTCUSD. Source: TradingViewAlts in red: but not ADA

Ethereum has largely mimicked the performance of BTC lately, including a dip below $3,000 last Monday. In the following days, the second-largest crypto surged over $400 before gloomy sentiment drove it south once again. In the last 24 hours alone, ETH has fallen by 1.6% and now sits at around $3,250.

The majority of larger cap alts are in a similar situation. Binance Coin (-2.3%), Solana (-4%), Ripple (-2%), Terra (-4.5%), Polkadot (-4.5%), Avalanche (-4.5%) and Shiba Inu (-4%) are all in the red.

Dogecoin fell further (-6.5%). Thus, DOGE continued its downward trend since the Friday hype when Tesla allowed payments with memecoin for its products.

In contrast, comes Cardano. ADA has been on a roll for the past week, rising around 30% over that time. On a daily scale, ADA is up 13% and sits well above $1.5.

Despite a slight decline since yesterday, the crypto market capitalization has remained above $2 trillion.

Presentation of the cryptocurrency market. Source: Quantify Crypto SPECIAL OFFER (sponsored) Binance Free $100 (exclusive): Use this link to sign up and receive $100 free and 10% fee discount on Binance Futures for the first month (terms).

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Cryptocurrency charts by TradingView.

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