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Cardano Rises 12% Weekly, Bitcoin Stops at $17,000 (Market Watch)
Bitcoin made another attempt to overcome $17,000 yesterday, but as in the past, it was stopped several times. The altcoins have pulled back after a few positive days, with Tron, QNT and LDO losing the most value on a daily basis. Bitcoin Fails at $17,000 Bitcoin ended a terrible 2022 by falling below $16,400 on Friday, which was a multi-week low. As New Year's Eve approached, the asset recovered somewhat and returned to $16,500. The next few days were quiet until Monday when BTC finally started to rise in value. After Bitcoin hit about $200 the next day...
Cardano Rises 12% Weekly, Bitcoin Stops at $17,000 (Market Watch)
Bitcoin made another attempt to overcome $17,000 yesterday, but as in the past, it was stopped several times.
The altcoins have pulled back after a few positive days, with Tron, QNT and LDO losing the most value on a daily basis.
Bitcoin fails at $17,000
Bitcoin ended a terrible 2022 by falling below $16,400 on Friday, a multi-week low. As New Year's Eve approached, the asset recovered somewhat and returned to $16,500. The next few days were quiet until Monday when BTC finally started to rise in value.
After adding around $200 the next day, Bitcoin continued to rise and approached $17,000 hours ago. This became the highest price since December 20th.
As the bulls prepared to challenge and eventually overcome this level, the bears came in and reversed BTC’s trajectory.
As such, the cryptocurrency is now trading a few hundred dollars below that level, but its market cap has remained above $320 billion. His dominance over the alts has also recovered somewhat and is at 39.7%.
BTCUSD. TradingView
ADA Jumps 12% Weekly
Similar to Bitcoin, Cardano has also been quiet in the final days of 2022. However, ADA started appreciating at the start of the new year and is now up over 12% week-on-week. The asset is trading at $0.27 and is among the few in the green among large-cap alts daily.
In contrast, Dogecoin, Polygon, RippleLitecoin, Shiba-Inu, Uniswap, and Avalanche have all declined by up to 4%. TRX is down 8%, perhaps due to Justin Sun's relationship with struggling crypto platform Huobi.
Quant and LidoDAO are the other large-cap alternatives with more notable daily losses of over 5%.
All of these price drops have resulted in a $5 billion decline in the cumulative market capitalization of all crypto assets, which has now fallen to $815 billion.
Overview of the cryptocurrency market. Quantify crypto