Trading volumes have declined over the weekend, resulting in BTC failing to make any significant movement in either direction.
Altcoins have also been flat on a daily scale, while XRP has emerged as one of the best in the past seven days.
Boring Bitcoin at $27.5K
A lot has happened in the cryptocurrency industry in the last few weeks and, unsurprisingly, Bitcoin has taken a break now.
The asset exploded from under $20,000 to over $28,000 during the US banking crisis, which actually spilled over into Europe, when UBS had to acquire Credit Suisse and Deutsche Bank shares plummeted. The latest Fed interest rate hike on Wednesday brought more volatility to BTC, which fell $2,000 in hours.
However, the bulls played back almost immediately, with bitcoin briefly soaring above $29,000 on Friday. After posting another 9-month high above that level, the cryptocurrency pulled back to below $28,000, where it has held for the past few days.
Its market capitalization has remained below $540 billion, while its dominance over altcoins remains at 46.2%.
XRP up to 21% weekly
With trading volumes declining on all charts, altcoins are expected to have been relatively stable on a daily scale. Ethereum is trading near $1,800 after a minor rise of 1.3%. Similar gains are evident from Binance Coin, Dogecoin, MATIC, Solana, Litecoin, Tron, and Avalanche.
Ripple is the only top 10 altcoin with a more notable price increase. XRP is up almost 4% in one day and more than 21% in the last week. As such, the asset is sitting just above $0.45.
ARB has recouped some of yesterday’s losses, having rallied 6.5% to almost $1.3. LDO, XMR, and XLM are the other top performers of the mid-cap alts, as they are all up around 3%.
The overall crypto market capitalization is in the same place as yesterday at $1.150 trillion.
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