Injective (INJ) rises 75% weekly, Bitcoin (BTC) stagnates at around $43,000 (Market Watch)

The price of Bitcoin failed to decisively clear the $43,000 mark and was later pushed down by more than a thousand, but it has recovered most of the losses so far.

Some altcoins with larger market caps, such as BNB, SOL and AVAX, have posted impressive gains over the past day, while ADA and DOGE have declined slightly.

BTC returns to $43,000

After a relatively quiet weekend in which Bitcoin failed to break above $43,000 and traded mostly around the $42,000 mark, the start of the business week was quite painful for Bitcoin. The asset fell by about two grand, falling to $40,600 for the first time in 5-6 days.

However, the bulls managed to intervene at this point and did not allow a break below $40,000. On the contrary, they started an impressive increase that led to a rise to $43,500 on Tuesday.

The cryptocurrency failed to maintain its momentum and fell below $42,000 hours later. However, it has now recovered almost all of its daily losses and is now at just under $43,000.

As a result, its market cap has fallen to just under $440 billion, but its dominance over alternative coins remains strong at over 52%.

BTCUSD. Source: TradingView

INJ continues to rise

The last 24 hours saw some gains in some larger alts. This is the case with Binance Coin, which is up 5% to around $260 following the company's recent settlement with US authorities. Solana (3%) and Avalanche (4%) are also rising daily.

In contrast, Ethereum, Cardano and Dogecoin have lost around 1-2% over the same period.

Near Protocol, Stacks and Sei have risen the most among the top 100 alts, with gains of up to 17% in the case of NEAR.

On a weekly basis, Injective’s native token stands out with a 75% increase. In the last 24 hours alone, INJ is up 11% and is trading above $11.

The total crypto market cap has declined slightly but is still over $1.6 trillion at CMC.

Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts from TradingView.

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