Bitcoin, the leading cryptocurrency, has failed to make any significant progress over the weekend. Despite trying to break the $27,000 mark, it remained relatively still, thanks to the low trading volumes during the weekend.
Meanwhile, altcoins such as Ethereum (ETH) and Binance Coin (BNB) also remained flat, with the former reclaiming $1,800 and the latter pumping above $310.
The past few days haven’t been kind to Bitcoin. On Wednesday, it briefly surged from $27,500 to $28,400 after the US CPI numbers came out for April.
However, it immediately reversed its trajectory and suffered a hard dump, dropping by almost $2,000 to a multi-week low of $26,600 on Bitstamp.
Although bulls tried to intercept the price slump and pushed the cryptocurrency back up to $28,000, another rejection followed, driving it back down to $27,000. As the weekend approached, Bitcoin nosedived once again to below $26,000 for the first time in two months.
Despite the struggles, Bitcoin managed to bounce back and challenge the $27,000 mark in the past 24 hours. However, it has not been able to break through that level yet, and its market cap is now at $520 billion. Bitcoin’s dominance over altcoins remains flat at 46.3%.
In the crypto world, the new kid on the block is the recently launched memecoin, PEPE. It has been the talk of the town for the past month, with its market cap skyrocketing from $1 million to almost $2 trillion in that timeframe.
However, following its listing on multiple exchanges such as BitMEX and Binance, the hype subsided, and PEPE lost over half of its value in the following days.
Nevertheless, PEPE has seen a resurgence in the past 24 hours, rising by 20%. However, it is still down by over 30% on a weekly scale.
