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NewsBTC 2022-07-06 17:00:09

Altcoins Take The Lead As Bitcoin Struggles To Hold Above $20,000

Bitcoin has been struggling for the last month and has struggled to hold the $20,000, losing its footing multiple times. Through this time, altcoins, while having followed the digital asset on the way down, had begun to gather momentum through the small recoveries recorded over the last couple of weeks. As July draws in on its first weekly close, performance across the market has shown that bitcoin is getting left behind. Altcoins Take The Lead The altcoins had been the worst losers of the downtrend. Although all of the indexes including bitcoin had seen losses into the double-digits, the small cap altcoins especially had recorded more losses. However, now that the market is headed into what looks like a recovery stretch, the smaller altcoins have pushed their heads forward to claim the majority of the gains. Related Reading | Active Ethereum Addresses Touch 2020 Levels, Will Price Follow? The Small Cap Index has seen gains up to 4.9% barely a week into the month of July/. This recovery is replicated across the Mid Cap Index which, surprisingly, had returned the highest gains for the time period. With 5.0%, the Mid Cap Index comes out ahead of all of its counterparts. As for the Large Cap Index, it was not left out of the recovery trend with 3.1% in gains recorded so far. These coins had followed the rally of bitcoin the closest and as such, had been the closest to it in terms of the gains that have been seen so far. BTC ...

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