Cryptocurrency market cools after recent rally, with Bitcoin (BTC) stalling below $52,000 (Weekend Watch)

After several consecutive days of impressive gains, Bitcoin has settled just below $52,000.

Altcoins have also stalled following the recent price hike, with ETH below $2,800 and AVAX below $40.

BTC settles below $52,000

This leading cryptocurrency has shown very impressive price movements over the past 10 days. It all started on February 7th, when the asset finally broke out of a tight week-long range around $43,000.

The bulls took complete control of the market and started several consecutive price increases, resulting in BTC knocking on the $50,000 door by the end of the week. After a brief period of rejection, the cryptocurrency went on the offensive again and regained that level on Monday, February 12th.

The US Consumer Price Index (CPI) numbers were pushed down by several grand, but that didn't last long. The asset's value has started rising again, soaring to $52,900 on Thursday, its highest level since late 2021.

However, it was unable to break through that line, and subsequent rejections pushed it far south on Friday. Since then, BTC has been very sluggish and currently he is a few centimeters below $52,000.

CoinGecko’s market cap is still over $1 trillion, but its control over alternatives is back to 50%.

Retrace mode Alt

Most altcoins followed BTC higher, with some outperforming the largest digital asset yesterday. But now, most companies have taken a slight step back.

Ethereum has been leading this adverse daily trend, with a slight decline to below $2,800. SOL has lost its $110 level and AVAX is now below $40.

More losses will be caused by XRP, ADA, DOGE, DOT, LINK, TON, etc. In contrast, TON is up about 3% and above $0.13.

The market capitalization of cryptocurrencies fell by about $15 billion overnight, but is still over $2 trillion.