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.
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%.
The two were the only ones among majors to buck a flat-market trend
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.
Transactions stalled in the hours after the network went live last Wednesday, with over $1.7 million worth of tokens in a bridge
Some gainers among altcoins include optimism (OP) and rollbit coin (RLB), each buoyed by increased user activity.
RLB jumped 18% in the past 24 hours, extending a multiweek trend as protocol usage shows no signs of slowing.
Fill Bitcoin investors are continuing to load up on the asset because the price is considered to be discounted relative to fundamentals
"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.