Bitcoin Slips After Stalled Rally, Stacks Token Surges 14%

After a slight pullback over the previous day, the price of Bitcoin has recovered to slightly over $58,000 after its ascent toward $60,000 was abruptly stopped.

With a 14% increase, Stacks has become the best performer among the larger-cap alts. LDO increases by 7% every day after that.

Bitcoin Stopped at $59K.

Less than seven days had passed since the main cryptocurrency plummeted to just under $54,000, a multi-month low. That was on July 5. This followed increased pressure from the BTC distribution on Mt. Gox and the German government’s regular sales of some of its looted cryptocurrencies.

At that time, the bulls turned the tide and initiated a rally that sent Bitcoin to just over $58,000 a few days later. Yesterday, we saw another retreat before the asset surged again.

As a result, a multi-day peak of $59,500 was tapped. As the bulls were getting ready to push toward $60,000, the bears took over and prevented more advances.

In contrast, BTC retracted about two thousand dollars in hours. Bitcoin is marginally up daily but trading only a hair above $58,000.

Its market capitalization has fallen below $1.150 trillion, and on CG, its share of the alternatives is 50.9%.

STX Increases

Daily, the altcoins move rather slowly. At $3,120 and $528, respectively, Ethereum and Binance Coin are marginally negative. Over 1% has dropped SOL and DOGE to $142 and $0.11, respectively.

Of the larger-cap alts, Chainlink has lost the most outstanding value (-3.7%) and is currently trading below $13. By comparison, AVAX is trading above $25 and has experienced the most significant growth of 3%.

Stacks have emerged as the best performance of the day. The asset is trading near $1.7 after rising 14% daily. LDO jumps by 7% in response.

With a current value of $2.250 trillion on CG, the entire cryptocurrency market cap is marginally negative.