Bitcoin (BTC) struggled to breach the $27,000 mark in the last 24 hours on November 14, facing resistance from bears and hovering just below that threshold. While most altcoins experienced minor gains after recent price drops, XDC Network (XDC) emerged as the day’s top performer with a 7% increase, market analysis reports suggested.
Altcoins experienced substantial losses over the past week, with Ethereum dropping over $250 in days and hitting a 7-month low below $1,550. However, the last 24 hours brought some relief, with ETH, BNB, DOGE, TON, and LTC seeing gains of up to 1%. XRP, MATIC, and DOT also posted modest increases of 1-2%.
BTC’s attempt to reclaim $27,000 came less than a week after it traded comfortably above $28,000. However, the Israel-Hamas conflict contributed to a gradual decline in BTC’s value, leading to a significant drop to $26,500 by Wednesday—its lowest point in two weeks.
Despite efforts by BTC bulls to push the price back up to $27,000, the cryptocurrency retraced by a few hundred dollars, remaining below the crucial threshold. This has kept its market cap at $525 billion, with its dominance over altcoins hovering just below 50%.
Among larger-cap altcoins, Solana stood out as the top performer, surging by 3% and maintaining a value above $20. ICP, CRO, MKR, APT, and LDO experienced gains ranging from 3-5%. Notably, the XDC Network’s token outperformed them all, jumping by 7% and trading close to $0.05.
Despite market fluctuations, the total crypto market cap has remained relatively stable at around $1.050 trillion on CoinMarketCap.
