Bitcoin Held Steady Above $26K Over Weekend; XRP, LTC Buck Market Trend

Crypto markets last week saw one of the biggest long liquidation events since FTX’s collapse, with little buying pressure over the past few days.

[{"selector":"#anim-7bd6c2ca-721b-4869-82ad-10dd86890e40 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-d83781e1-0a3e-43b0-9956-7ff2728f5036","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-b0007bab-514a-415e-ade1-37bd9afa06fc","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

As of Asian afternoon hours, the bitcoin (BTC) price remained steady at over $26,000, with ether (ETH) little changed from Sunday’s $1,670. Xrp (XRP) lost some 2% while litecoin (LTC) rose 2%.

[{"selector":"#anim-d6d9468e-51be-43f4-89cb-03158c441598 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-53ea083c-8354-4cc7-b8bc-9974813c03d9","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-eef0f719-6498-4dc1-baa0-ad5a8c3e54cc","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

The two were the only ones among majors to buck a flat-market trend.

[{"selector":"#anim-ec415735-fbf3-4f7b-9b3d-b85d7f64d2af [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7c79d9ca-d88e-43d2-b861-3527cad77e97","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-aead074c-6dbb-4e85-adfb-b52a5440bfee","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Meme coin shiba inu (SHIB) slid 2%, increasing losses to more than 21% in the past week following the botched launch of its Ethereum layer 2 network Shibarium.

[{"selector":"#anim-d0ac32f0-cc1c-4010-8b37-9025e2af1760 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-949fc656-c4c2-48c3-af7e-66e28361db22","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-c977fab5-c970-420b-bddc-dd9be415ab43","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Transactions stalled in the hours after the network went live last Wednesday, with over $1.7 million worth of tokens in a bridge

[{"selector":"#anim-944ad861-40e1-4369-9d17-337c8ca6931c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-439109bb-bb39-4605-8491-afbbdd6cd447","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-1d85c24f-85ce-4945-aada-1adef7ca1e42","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Some gainers among altcoins include optimism (OP) and rollbit coin (RLB), each buoyed by increased user activity.

[{"selector":"#anim-2004a902-8e20-4ec0-b491-2e08116f79a5 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-99fa8462-84c1-4c56-9996-18b79cda3438","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-320290d7-9cd7-4be7-8f71-3c8db63f46d9","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

RLB jumped 18% in the past 24 hours, extending a multiweek trend as protocol usage shows no signs of slowing.

[{"selector":"#anim-d7157b12-e05c-4729-8d77-2b580d0dc361 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-16acd2a8-8734-447d-9b33-10a2cad2beb0","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-11132e40-8864-4118-8a60-d1826ee19cac","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

Fill Bitcoin investors are continuing to load up on the asset because the price is considered to be discounted relative to fundamentals

[{"selector":"#anim-5055374c-2d37-4448-aedc-d7b4c3dba5f2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-1b50dc81-350f-454f-819d-a66ef4b0c48e","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-f654a91e-dfba-4b2f-accc-4e8ff7c6e087","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

"While there has been more open interest on the short side, there has also been accumulation in both directions as the market moved sideways in thin liquidity.

[{"selector":"#anim-1181970e-1246-4158-857b-ac22d3320171 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-3cfa1449-82be-4df1-b43a-7f0ccf1f66b3","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-a98c636b-5fcb-45f4-91c0-0a05bde78c1f","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]