The past few days have been mostly about consolidation, following Bitcoin\u2019s rally to $35K and the slight correction that followed.<\/p>\n
These tend to be periods where the price fails to excite, but rather, market participants are evaluating their current standings and projecting what might happen next.<\/p>\n
Bitcoin Price Steady Above $34K<\/h2>\n
The past 24 hours were optimistic for Bitcoin\u2019s price, which managed to maintain above $34K.<\/p>\n
In fact, BTC attempted a push, but it was unable to sustain the upward pressure and retraced to where it\u2019s currently trading at around $34,200 (on Binance).<\/p>\n
As seen in the chart below, the price has been going through a steady consolidation phase throughout the past few days, following its push to $35K.<\/p>\n Bitcoin\u2019s dominance is also steady, above 50%, currently sitting at 51.2%. This is the metric analysts use to gauge its share relative to that of the rest of the market.<\/p>\n Most of the altcoins are also trading in the green. However, they are charting slight increases, which is more indicative of a consolidation phase. There are certain exceptions, of course.<\/p>\n Shiba Inu (SHIB), for example, is up by 3.3% in the past 24 hours, which makes it the best-performing altcoin among those with larger market capitalization.<\/p>\n All in all, the day was relatively calm. Render (RNDR) is the best performer from the top 100 coins, up 10%, followed by BitTorrent (BTT), which is up 7.1%.<\/p>\n On the other end of the spectrum, there\u2019s Rollbit Coin (RLB), which is down 9% in the past 24 hours. XDC Network (XDC) is next in line \u2013 it\u2019s down some 4.3% at the time of this writing.<\/p>\nAltcoins Also Consolidate<\/h2>\n
![\"Screenshot](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-29-at-11.25.25.png\")
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