By Nathan Ferguson
Bitcoin tried to overcome $22K but failed, potentially for now. Uniswap leads large-cap cryptocurrencies with a notable surge.
Bitcoin’s yesterday multi-week peak stopped around the $22,000 vicinity, and the crypto resorted to declines. This weekend arrived with little-to-no significant actions from the alt market like the previous one. Uniswap (UNI) was one of the few exceptions to record visible price upswings.
BTC’s Trip Beyond $22K Stopped
As highlighted, last weekend remained somewhat calm as far as price action is concerned. That came as market players in the US celebrated Independence Day, resulting in lesser activities in the crypto space. However, Bitcoin started gaining as that ended, climbing to $20K from $19K.
The crypto overcame the $20K threshold after some rejections and kept soaring. Uptrends saw it challenging $21K within no time and took down the level on Thursday. Bitcoin maintained its upside stance, moving beyond the crucial $22K to explore a three-week peak near $22,500. However, it could not move past this level and bears erased nearly $1,000 of the value. BTC’s market cap remains well beyond $400B, whereas its market dominance stayed beyond 43%.
Notable BTC Updates
Unlike other cryptocurrency miners, Marathon Digital revealed it hadn’t sold its Bitcoin holdings during last month’s market crash. The BTC premium eventually went green, indicating buying activities by institutional investors.
UNI Outshines the Rest
Most alternative tokens recorded notable gains over the working week before calming into the weekend. ETH hit its multi-week peak beyond $1,250 before losing more than 2% to $1,220/ Meanwhile, Dogecoin and Ripple hovered with brief overnight declines.
Meanwhile, UNI, XCN, and ICP led gainers in mid-and lower-cap assets. XCN trades up at $0.1, UNI has regained $6, and ICP changed hands beyond $7. Such developments saw the cumulative market capitalization still hovers at $950 billion.
Industry News
- A lawsuit early this month showed a California resident accusing Solana (SOL) of selling unregistered securities.
- Celsius’ scenario still worsened despite replying to the Maker loan, with updates suggesting its approaches triggered multimillion losses for clients and facing fraud suit from its previous money manager.
- com encounters a $270M loss following loans it had offered to 3AC during its struggle.
- Elon Musk postponed the deal to buy Twitter, citing the social media site’s inability to offer crucial data about its maneuvers.