FTX Token (FTT) Soars 10% Daily, Bitcoin (BTC) Wobbly at $37K (Market Watch)

FTX Token (FTT) Soars 10% Daily, Bitcoin (BTC) Wobbly at $37K (Market Watch)

Bitcoin’s underwhelming performance continues as the asset slipped below $37,000 on a few occasions in the past 24 hours.

Most altcoins have seen a second consecutive day of price drops, with DOGE, TRX, ADA, LINK, and others declining by more than 3%.

BTC Shaky at $37K

Last week was a lot more volatile for the primary cryptocurrency, mainly because of the $4.3 billion settlement deal made by Binance with the US Department of Justice. Additionally, the former’s CEO had to step down, which prompted the enhanced fluctuations, resulting in BTC dumping and pumping by around $2,000 on a few occasions on Wednesday and Thursday.

Nevertheless, the bulls took charge on Friday and drove the asset to an 18-month peak at $38,500. Shortly after, though, bitcoin started to lose momentum and slipped back down to under $38,000, where it spent the weekend.

Monday saw more price declines, with BTC slipping under $37,000 a few times. The past such example came hours ago, but bitcoin currently stands just inches above that level.

Its market capitalization has decreased to $725 billion, but its dominance over the alts is on the rise at 51.7%.

Few Alts Defy Market Sentiment

Most of the larger-cap alts have continued to trade in the red on a daily scale. Ethereum went below $2,000 earlier today but has recovered some ground and now stands just above it even though it’s 1.7% down on the day. BNB, XRP, SOL, LTC, DOT, BCH, and LEO have declined by similar percentages.

More daily losses come from the likes of Cardano, Dogecoin, Tron, Chainlink, Avalanche, and Shiba Inu. The decreases in their cases are of up to 4%. ATOM has dumped even more – by 5.5%.

Toncoin and Uniswap are the only two larger-cap alts with gains today of around 3%.

FTX Token has jumped the most from the top 100. FTT is up by 10% overnight and 35% over the past week.

The total crypto market cap, though, has shed another $20 billion and is down to $1.4 trillion on CMC.