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.
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