Bitcoin has failed to reach $20K again. Bitcoin gained almost 2% of dominance this past week, regardless of the failure to reclaim $20,000.

Bitcoin failed to break through $20,000, dropping by almost $1,000 yesterday. As it did on Monday, the market reacted negatively and most of the altcoins are in the red at the moment, while some are actually up.

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Bitcoin Has Failed To Reach $20K Again

Bitcoin has had much less volatility this week, at one point dipping as low as $18,100 and rebounding back up to around $19,500.

The value of Bitcoin recovered some ground and remained at around $19,000. It spent most of the weekend there and even Monday.

The first big movement in the price of crypto came on Tuesday when they hit a 12-day high of $20,400. But then bears jumped back in and pushed that number all the way down.

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The market is currently in a state of flux, with prices see-sawing between $19,000 and $20,000. It remains to be seen whether BTC can muster the strength to push through the $20,000 barrier, or if it will continue to languish below this key level.

BTC’s dominance has gained over the week and is now up to 39.5%. It’s even touched 40% this week at one point.

The Alternative Coins Had Failed Attempts At Gaining Impressive Gains

Ethereum’s post-merge struggles continue. The cryptocurrency traded at $1,650 shortly after the transition to Proof of Stake (PoS) was completed two weeks ago, but quickly dumped to $1,220 in the following days. Since then, it has recovered some ground and managed to break back above the $1,320 mark.

The good news is that the digital asset is still up by a whopping 25% in the past week. This means that XRP has now entered into price discovery mode as it looks to set new higher highs.

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From a technical perspective, XRP remains in an uptrend as long as it trades above $0.45. The next key level to watch out for is $0.55 which if breached could see XRP touch $0.75 in the near term.

In the case of Binance Coin, ADA, and DOT, the losses are not really significant. Binance coin is currently down by 1.27%, Cardano by 2.14%, Solana by 3.17%, and Polkadot by 2.97%. There are only two mid-cap altcoins with notable gains, Uniswap and QNT.