Bitcoin Stuck Below $31K, While FIL and GRT Skyrocket by Double Digits (Market Watch)

Bitcoin continues to stay sideways and has not moved in the past 24 hours.

Most altcoins made more impressive gains over the same time frame, with ETH approaching $2,000 and DOT jumping nearly 5%.

Bitcoin calms down

Bitcoin posted impressive gains two weeks ago when it jumped over $31,000 for the first time in months after BlackRock filed to launch a Spot BTC ETF. After gaining more than $4,000 in days, the cryptocurrency has cooled off and spent most of the past week trading in the $30k-$31k range.

It fell sharply on Friday to a 10-day low of $29,500 on reports that the SEC had issued warnings against all BTC spot deposits. However, the bulls intercepted the move and did not allow any further declines.

Quite the contrary, Bitcoin rose by a significant amount and returned to $30,500. The weekend was less eventful as BTC remained stuck at this level.

So far, Monday doesn’t look all that different, with the original sticking around that line again. Thus, its market capitalization remained below $600 billion, while its dominance over alternatives took another hit and fell to 49.2% on CMC. This means that the scale has fallen by 1% in a few days.

FIL and GRT take the main platform

Ethereum has jumped 2.5% in the past 24 hours, which has helped it near the coveted $2,000 line. Binance Coin is approaching $250 after gaining 1.5% over the same time frame.

Ripple, Cardano, Dogecoin. Litecoin, Solanna, Tron, and Bitcoin Cash are also slightly green. Polkadot, Polygon and Avalanche added more value in the past day, with gains of up to 5%.

Despite this, the two most significant gainers on the daily scale are Filecoin and The Graph. Income tax exchange rate increased by 16% to over $4.5, while gross income tax exploded by 25% to over $0.13.

As such, the total market cap of cryptocurrencies managed to add another $10 billion per day and is above $1.210 trillion now on CMC.