Crypto Market Update: Bitcoin Slides While Ether Gains Ground

The Current Landscape of Crypto

It was a wild Saturday on September 21 in the crypto markets, and by “wild,” we mean less like a lion’s roar and more like a kitten’s faint purr. Most of the top 20 cryptocurrencies were trading sideways, resembling more of a lazy Sunday than the wild financial revolution we’ve been promised.

Bitcoin’s Wobbly Dominance

Bitcoin, the majestic king of crypto, narrowly avoided a feral tumble under the $10,000 mark, currently trading at $10,041. This charming cryptocurrency isn’t having the best reception from the market, dropping about 1.1% in the last 24 hours and experiencing a sobering 3% dip over the week. Functioning a bit like your average cat, its dominance is slipping away, falling from 67.7% to 67.5% – not quite what you want to hear when it comes to the powerhouse that is Bitcoin.

Ether Takes a Tiny Victory Lap

Meanwhile, across the crypto pond, Ether (ETH) is living its best life, up by 0.5% and trading comfortably at $219. That’s right! After channeling its inner phoenix and rising about 18% in the past week, it appears that Ether’s bullish trend reversal is more than just a phase. Perhaps it’s like that friend who suddenly found enlightenment after a yoga retreat.

XRP: Third Time’s the Charm?

The XRP coin is also getting in on the action, nudging up about 1.1% to land at $0.292. A solid week for XRP with an 11.3% increase, suggesting that maybe, just maybe, the third-largest cryptocurrency is feeling a bit more popular these days.

Winners and Losers of the Day

• Winners: EOS has decided to show off a bit today with a 3.2% rise. Expecting its first hard fork on September 23, it seems the community’s excitement is really paying off.
• Losers: Poor Monero (XMR) is not having such a great day, sliding down by 2.6%. You know it’s a tough morning when your privacy coin is losing visibility.

The Bigger Picture

The total market capitalization has seen a slight setback, dropping from $269 billion at the start of the day to $267 billion. However, considering it battled its way back from a low of $261 billion earlier this week, we’re not calling it a funeral just yet.

Looking Ahead

The crypto community is on the edge of its seat, eyes glued to a major event on September 23: Bakkt’s launch of physically delivered Bitcoin futures. According to Tom Lee of Fundstrat Global Advisors fame, this event could spark some serious trust and interest from institutional traders in Bitcoin – could this be the catalyst we’ve been waiting for? Only time will tell!