Bitcoin Stagnates at $39K, THORChain’s RUNE Surges 10% (Weekend Watch)

The cryptocurrency market failed to deliver any significant movements in the past 24 hours as the majority of coins are trading flat with no real discrepancies. There are, of course, a few exceptions, so let’s unpack.

Bitcoin Price Flat at $39K

As seen in the chart below, the past 24 hours were finally a bit less volatile compared to previous periods.

With one exception where BTC’s price dipped towards $38,500, the primary cryptocurrency has been trading around $39,000 for the most part. This is somewhat expected as it’s the weekend and it’s usually the case that volumes are lower.

Source: TradingView

The lack of tumultuous price action also resulted in a lot fewer liquidations compared to the previous days. Over the past 24 hours, there was only about $38 million worth of liquidated long and short positions, where the ratio is also somewhat flat with 58% being long liquidations. The largest single liquidation order was an ETH perp worth $800K and it happened on OKEx.

THORChain Pulls Ahead, Top Alts Stagnate

The leading altcoins from the top 10 failed to produce any considerable movements during the last day.

Source: Quantify Crypto

As seen in the heatmap above, most of the cryptocurrencies are trading in the red for minimal losses – typical sideways action. LUNA continues to lose gains made during its recent rally as the coin is down another 3% today.

The biggest gainer for the past 24 hours is THORChain’s RUNE – up 10.5%. With this recent increase, the cryptocurrency is up a total of 40% over the past week.

On the other hand, JUNO lost the most – about 8%, followed by ANC with 6%. The latter is also the coin that lost the most value for the week – about 47%.