Bitcoin’s Not Letting Go of $80K, Altcoins Stay Largely Unchanged

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The crypto market has seen a minor drop on Thursday morning (11:00 UTC) compared to the same time on Wednesday. While BTC hold tightly to the $80,000 zone, attempting another push higher, altcoins are still mostly moving within an established range.

Bitcoin currently trades at $81,118, after it posted a 0.7% drop since this time on Wednesday morning. Notably, after several failed attempts, it’s now holding onto the $80,000 level, periodically pushing over and testing the $82,000 mark.

The highest point it reached in the past 24 hours is $82,751, a multi-month high. This is not an insignificant move, as it opens doors for the price to attempt breaking higher levels, inching towards $85,000.

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Even though geopolitics has been a major catalyst this year, this week has generally been marked less by external factors and more by crypto-specific developments that have had a moderate impact on the price. A key element continues to be the growing institutional interest in crypto, and more specifically, BTC and ETH. We’re seeing major institutional names loading up on these coins.

Altcoins stay range-bound

The global cryptocurrency market cap today stands at $2.78 trillion, down 1% in the last 24 hours.

Of the top 10 coins by market cap, 5 have seen their prices decrease, while 3 are up (not taking the two stablecoins into account). Of these five, Dogecoin (DOGE) fell the most: nearly 4%, changing hands at $0.115.

Ethereum (ETH) comes next, posting a 2.2% fall and trading at $2,333 at the writing time.

Yet, no coin recorded an increase above 1% in this category. The top gainer is Binance Coin (BNB), thanks to a 0.9% rise, now standing at $649.

About half of the top 100 green coins are green today, and most coins have posted moderate gains in this period.

Siren (SIREN) leads this list with a 40% rise, at the time of writing, trading at the price of $1.1. Next one is Toncoin (TON) with 20% to $2.65, followed by Venice Token (VVV) and Virtuals Protocol (VIRTUAL), which also saw increases above 10%.

On the other side, only one coin posted a double-digit decrease since Wednesday. SkyAI (SKYAI) fell 17.6%, trading at $0.6367. It’s followed by Pudgy Penguin (PENGU)’s 6.4% fall to $0.01051.