Bitcoin's price action over the weekend was somewhat disappointing as the asset calmed down at just over $64,000 after the previous week's volatility.
Altcoins are also generally less volatile today, with a few exceptions like Dogecoin, which is up around 7%.
BTC calms down
The last business week started extremely unfavorably for the main cryptocurrency, which recovered most of the losses from the end of the previous week. The asset was at $69,000 on Monday but quickly fell by five grand.
Tuesday saw even steeper declines as BTC fell to a two-week low below $61,000. This was primarily due to profit-taking by certain investors and uncertainty surrounding the upcoming FOMC meeting later in the day.
After the Federal Reserve declared that it would not deviate from its current monetary strategy, Bitcoin went on the offensive, immediately rising 4% and rising above $68,000 on Wednesday morning.
However, this rally was short-lived and BTC started losing ground over the next few days. The cryptocurrency is currently trading at around $64,000 after failing to clear the $66,000 mark yesterday. CG's market cap remains unchanged at $1.260 trillion and its dominance is just over 49%.
BTCUSD. Source: TradingView
DOGE is rising
Most altcoins also calmed down over the course of the day. Ethereum, Solana and Binance Coin recorded insignificant losses, while XRP, ADA, SHIB and DOT gained around 1-2%.
In contrast, Dogecoin has emerged as the top performer of the 15 largest crypto assets with a 7% increase overnight. This means that the OG Meme coin is now above $0.17.
Bitcoin Cash, ICP and OKB are the other impressive winners, with price increases of up to 8% in the case of OKB.
However, the total crypto market cap has declined slightly on a daily basis and stands at just over $2.560 trillion on CoinGecko.
Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts from TradingView.
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