In recent days, the focus has primarily been on consolidation, following Bitcoin's surge to $35,000 and the subsequent minor correction. These phases are typically characterized by price stability, with market participants assessing their current positions and forecasting potential future developments.

Bitcoin Price Steady Above $34K

Over the last 24 hours, Bitcoin's price displayed a positive outlook, successfully holding above the $34,000 mark. Notably, BTC made an effort to rally higher, but it couldn't maintain the upward momentum and retraced to its current level, approximately $34,200 (on Binance).

As illustrated in the chart below, the price has been engaged in a consistent consolidation phase over the past few days, following its ascent to the $35,000 mark.

Bitcoin's dominance remains stable, surpassing the 50% threshold and presently standing at 51.2%. This metric is commonly utilized by analysts to assess its market share compared to the broader cryptocurrency market.

Altcoins Also Consolidate

The majority of altcoins are currently experiencing positive price movements. Nevertheless, these gains are relatively modest, signaling a period of consolidation. Naturally, there are exceptions to this trend.

Take Shiba Inu (SHIB), for instance, which has seen a 3.3% increase in the past 24 hours, making it the top-performing altcoin among those with significant market capitalization.

In summary, it was a relatively tranquil day in the cryptocurrency market. Render (RNDR) emerged as the standout performer among the top 100 coins, with a notable 10% increase in value, closely followed by BitTorrent (BTT), which saw a 7.1% gain.

Conversely, Rollbit Coin (RLB) experienced a 9% decline over the past 24 hours, while XDC Network (XDC) followed suit with a 4.3% drop at the time of composing this update.