BTC Stable Above $26K as Altcoins Jump 3%

• Bitcoin (BTC) has regained almost $600 in the past several hours, after dropping to a 13-day low yesterday.
• Ripple (XRP), Litecoin (LTC), and Arbitrum have all added the most value from the top 50 altcoins today.
• BTC is currently trading around the $26,500 mark and recently attempted to break out of its tight range at around $27,000 but was stopped at $27,500.

Bitcoin Stable Above $26K

Bitcoin (BTC) has recovered after dipping to a 13-day low yesterday and is currently trading above the $26,000 mark. After making several attempts to break out of its tight range around $27,000, it was ultimately stopped by bearish pressure at the resistance point of $27,500.

Altcoins See Gains

From the top 50 altcoins today, Ripple (XRP), Litecoin (LTC), and Arbitrum have witnessed increases in value. Ethereum (ETH) and Matic Network (MATIC) are also slightly in the green on a daily scale. However, LDO is now trading below $2.

Bulls Return To Support Bitcoin

The bulls finally returned when bitcoin dropped under $25,900 yesterday and started helping it recover some of its lost value. The first push allowed BTC to go over 26K before another minor leg up pushed it to its current value of around 26.5K.

Glassnode Confirms Tight Range

Glassnode recently confirmed that bitcoin had been stuck in a tight range with mostly trades taking place around $27,000. This has been partly responsible for lacklustre market performance over recent weeks as investors have been waiting for BTC to make a breakout move either way before committing funds into other assets or strategies again.

Overall Market Performance Mixed

Overall market performance remains mixed with some alts doing better than others but still far away from reaching their previous highs in late 2020/early 2021 when prices skyrocketed across many digital assets including bitcoin itself which went on to set new all-time highs just above 40K before correcting back down again slightly lower levels since then.