Bitcoin Drops Below $43K
Bitcoin experienced a drop on Christmas Eve, falling by approximately $1,000 and briefly dipping below the $43,000 mark. However, it has managed to rebound and is currently trading above that level.
Polkadot Leads the Way
Among the larger-cap altcoins, Polkadot is currently the top performer, with a 5% increase on a daily scale. On the other hand, SOL and AVAX have cooled off after recent rallies.
BTC Struggles to Sustain Gains
After a positive start to the previous business week, bitcoin faced resistance and failed to maintain its position above $44,000. The cryptocurrency remained range-bound between $43,000 and $44,000 for several days.
On Sunday evening, BTC experienced a significant decline, dropping to $42,700. However, it quickly recovered a large portion of the losses and is now trading just above $43,000.
This Week’s Top Performers
Most larger-cap altcoins have seen minor retracements on a daily scale. However, Polkadot stands out with a 5% surge that has pushed its price over $9.
On a weekly scale, Near Protocol and Mina have experienced massive surges of 80%. Optimism and Sei follow closely with 70% increases. SOL has also performed well with a 60% gain, becoming the fourth-largest digital asset with a market cap of nearly $50 billion.
Total Crypto Market Cap Rises
The total crypto market cap has increased by almost $100 billion over the past week and is currently well above $1.650 trillion on CMC.
Hot Take: Bitcoin Rebounds After Christmas Eve Drop
Bitcoin faced a drop on Christmas Eve, falling below $43,000. However, it has managed to bounce back and is currently trading above that level. Polkadot has emerged as the top performer among larger-cap altcoins, while SOL and AVAX have cooled off. BTC struggled to sustain gains above $44,000 and experienced a significant decline before recovering. Near Protocol and Mina lead the charge with massive surges on a weekly scale. The total crypto market cap has also seen significant growth over the past week. Despite fluctuations, the crypto market continues to show resilience and opportunities for investors.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
