Bitcoin Drops Below $19K, TerraClassicUSD Spikes 13% (Market Watch)

Bitcoin continues to trade in a tight range, as the biggest swing in the past 24 hours came when the asset briefly dipped below $19,000.

The altcoins are also atypically stable. Terra’s original cryptocurrencies are among the best today.

Bitcoin dipped below $19K

Last week’s close brought a lot of fireworks for the primary cryptocurrency, which went from $19,000 to below $18,200 and back up to $20,000 in less than 24 hours after the latest US CPI numbers came out.

It failed to break $20,000, as with previous examples, and returned to $19,000. The weekend was fairly quiet, with little or no movement in either direction. It was also Monday.

The landscape began to change on Tuesday as the asset began a leg that resulted in close to $20,000 again. However, the scenario repeated itself and BTC was stopped in its tracks.

After returning to a familiar sight of $19,000, bitcoin calmed down, except for a brief dip below that level. Still, it managed to recover the minor losses and is now inches above $19,000 again.

This comes amid reports claiming that retail investors’ BTC holdings have hit a new all-time high, while whales have fallen to a 3-year low.

USTC on the rise

The altcoins have largely mimicked BTC’s performance over the past few days, meaning most are uncharacteristically stagnant on a daily scale now.

Ethereum had risen to $1,350 earlier this week, but failed there, returned to $1,300 yesterday, and is now below that level.

Cardano, Solana, MATIC, Shiba Inu, Tron and Uniswap also have smaller daily declines. In contrast, Binance Coin, Ripple, Dogecoin and Polkadot are a bit in the green.

XCN and USTC added the most value during the day – up to 13-15%. As a result, the former is at $0.0715, while the latter is close to $0.04.

But with most cryptoassets trading without any major moves, the total market capitalization has remained as good as $925 billion.