The untypical lack of any volatility continues for bitcoin as the cryptocurrency keeps trading around $22,400.
The altcoins are in a similar state, with little-to-no movements from most larger caps. FLOKI has taken advantage and has popped into the top 100 after a massive daily surge.
Will Bitcoin Finally Move Today?
Last Friday saw a massive price plunge from bitcoin that drove it from over $23,400 to just below $22,000 in minutes as the Silvegate issues intensified. However, that was the last piece of price volatility for the cryptocurrency for the next several days.
The weekend was somewhat expectedly calm as the trading volumes had declined. Nevertheless, Monday didn’t produce any large price movements either, as BTC traded in a tight range between $22,300 and $22,600.
All that could change later today when Fed Chair Jerome Powell is scheduled to testify in front of Congress about the central bank’s monetary policy. Given the history between the Fed’s interest rate hikes and BTC’s price volatility, it’s safe to assume that there would be some fluctuations today and, in fact, during the rest of the week as there’re more events and announcements coming from the US.
FLOKI Enters Top 100
Most alternative coins have remained stuck in the same position as the past few days as well. Minor daily gains are evident from Ethereum, Binance Coin, Ripple, Dogecoin, Shiba Inu, and Tron. Polygon has increased the most from the top 10, following a 2.5% daily jump to $1.15.
In contrast, OKB, Cardano, Solana, Polkadot, Litecoin, TONCOIN, and ATOM have charted insignificant losses.
FLOKI is among the few exceptions. In fact, the memecoin has skyrocketed by 15% in a day, which has helped it enter the top 100 cryptocurrencies by market cap.
Overall, though, the cumulative market cap of all crypto assets remains stuck at around $1.020 trillion.
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Cryptocurrency charts by TradingView.