Bitcoin Struggles To Cement Its $20K Price Mark While Chainlink Outperforms

The crypto market hasn’t been propitious since the Fed’s interest rate hikes. As the fight against inflation becomes more aggressive, the financial markets bleed. Many coins are trading in the reds instead of recovering as investors expected. Bitcoin and other altcoins have lost their last week’s gains and are now struggling to remain at expected levels. As of September 5, the trading price for most of these assets started very low, indicating a tough week ahead. Related Reading: Ethereum (ETH) Struggles Ahead Of the Merge, Can Price Retest $1,900? Apart from price loss, bitcoin’s dominance has fallen below 39%, and its market cap has remained below $380 billion. The dominance metric indicates the performance of BTC relative to altcoins. When the figure is high, it means bitcoin has outperformed the others and vice versa. BTC Struggles To Maintain $20K Mark Bitcoin prices have lost their footing on the $20K mark. The current price of the BTC stands at $19687 on TradingView. Moreover, the CoinMarketCap price for BTC shows it has lost 0.57% in 24 hours. Bitcoin price fluctuated between $24K and $23K from August 13 to 19. Then on August 20, the price dipped to $20K, causing a lot of panic in the market. The next day, BTC gained again to stand at $21K. It continued at that level until after the Feds meeting on August 26, which saw the crypto market in the reds again. By the end of that day, BTC lost more than $1k and c...