Weekend Watch: Bitcoin Maintains $42K, Monero at 3-Month High After 8% Spike

After falling to its January 2021 all-time high of around $42,000, bitcoin has maintained that level following a relatively still trading day. The altcoins are also untypically calm today, with Monero being among the few exceptions and XMR tapping a three-month high.

Bitcoin Remains Above $42K

It’s safe to say that the primary cryptocurrency has seen better days as it attempted to jump above $47,000 earlier this week. However, it failed on both occasions when the bears returned to the scene and pushed the asset south.

As reported over the week, BTC first dropped to $45,000 before another nosedive took it down to $43,000. After bouncing off and adding a grand, bitcoin started plummeting again yesterday and fell to a 17-day low of just over $42,000.

Since then, the cryptocurrency has regained some traction and neared $43,000 hours ago. It has failed to breach that line yet and now stands a few hundred dollars lower.

Nevertheless, its market capitalization remains above the coveted $800 billion level.

BTCUSD. Source: TradingView

XMR Leads the Way

The altcoins suffered just as badly as bitcoin yesterday, but most have calmed today with minor gains. Ethereum dropped by $300 in days to $3,200 but has remained above that line following a slight increase.

Binance Coin, Ripple, Solana, Terra, Cardano, and Polkadot are also slightly in the green. Dogecoin and Shiba Inu – the two largest memecoins by market cap – have jumped by more than 3% in a day to $0.15 and $0.000025, respectively.

Cardano and Near Protocol are the only two larger-cap alts with minor declines.

Monero has stolen the show from the mid-cap altcoins with an 8% increase. As a result, XMR jumped to its highest price line since early January at $240.

The crypto market cap, down by $200 billion in less than a week, is still below the $2 trillion level.

Cryptocurrency Market Overview. Source: Quantify Crypto