These are the top performers of the last week as Bitcoin (BTC) nears $49,000 (Market Watch)

The Bitcoin price rise continued in the early hours of the Asian trading session, with the asset approaching but stalling at $49,000 for the first time since ETF approval a month ago.

Most altcoins have also fallen into the red after days of price increases, with total market capitalization down by about $30 billion since this morning's peak.

BTC failed at $49,000

Bitcoin started last week in an extremely stagnant phase, with the price hovering sideways at $43,000 for several consecutive days. This trend finally began to break on Wednesday evening and especially on Thursday.

At this point, bulls stepped on the gas as BTC approached $45,000 and continued to climb on Friday. This time, the cryptocurrency jumped above $48,000 for the first time in about a month.

After a slight decline on Saturday morning, Bitcoin began another increase, which led to the price reaching the $48,500 mark on Sunday. As mentioned above, the asset rose even further to $48,800 on Monday morning.

As the community expected a breakout at $49,000, the landscape changed. BTC was rejected at this point and has lost almost a thousand and is currently trading at around $48,000. Its market capitalization has fallen to $940 billion while its dominance over altcoins has increased to 52.5%.

BTCUSD. Source: TradingView

Alt retrace

Most altcoins have also posted impressive gains in recent days and are now, perhaps expectedly, starting to fall back slightly. Ethereum and Binance Coin are down around 2%, and ETH is now below $2,500, while BNB is down to $315.

Further losses come from companies like SOL, XRP, ADA, AVAX, DOGE, DOT and MATIC – all of which are down 3-5%.

However, on a weekly scale, the landscape is different. DYM, BEAM, KAS and IMX lead the way with double-digit gains of up to 72% for DYM.

The total crypto market cap is down $30 billion since today's peak.

Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts from TradingView.

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