Market News

PEPE outperforms Bitcoin with 20% daily gains while BTC remains stagnant at $27K

PEPE has shown some positive gains, rising by 20%

Over the past few days, Bitcoin has struggled to gain momentum, failing to break past the $27,000 mark due to low weekend trading volumes.

The altcoin market has also seen limited price movements, with Ethereum (ETH) holding steady above $1,800 and Binance Coin (BNB) surging to over $310.

Bitcoin’s lackluster performance started on Wednesday when it quickly jumped from $27,500 to $28,400 after the release of the US CPI numbers for April. However, the upward trend was short-lived, and the asset dropped by almost $2,000 to a multi-week low of $26,600 on Bitstamp.

Despite attempts by the bulls to push the cryptocurrency back up to $28,000, it faced another rejection, driving it back down to $27,000. As the weekend approached, Bitcoin took another nosedive, falling below $26,000 for the first time in two months.

The overall sentiment in the market has been cautious, with investors waiting for a clear trend to emerge before making any significant moves. In the meantime, Bitcoin remains range-bound, with a break above $28,000 needed to resume the uptrend.

Ethereum, on the other hand, has been showing signs of strength, reclaiming the crucial $1,800 support level and consolidating above it. Binance Coin has also been on the rise, pumping above $310 after gaining over 10% in the past 24 hours.

Over the past 24 hours, PEPE has shown some positive gains, rising by 20%, but it is still down over 30% on a weekly scale. Bitcoin’s dominance over the altcoins remains flat on a daily scale, with a 46.3% market share.

The lack of volatility in the market is causing concern for some traders, as it may lead to an increased risk of a sharp price swing in either direction. However, others see it as an opportunity to accumulate assets at lower prices before the next bull run.


Sophia Hernandez is an experienced crypto writer who has been writing about crypto and blockchain technology for 3 years. She has a deep understanding of the complexities of the crypto market and is skilled at breaking down these concepts into easy-to-understand language for readers.