Bitcoin is still unable to break above $17,000, even though it briefly jumped above that level yesterday.
Altcoins have also calmed down following notable gains posted at the start of the weekend. However, ApeCoin has marked a high of almost a month.
Bitcoin stops below $17K
2022 brought little joy for bitcoin bulls and the end of the year was pretty similar, with the asset falling to a multi-week low of less than $16,500. After a few quiet days around New Year’s Day, the cryptocurrency started to rise in value on Monday.
The following days were similar, with BTC adding a few hundred dollars. This culminated in a price jump towards $17,000, but Bitcoin was unable to challenge that line until early Saturday morning.
It was then that the asset was finally able to touch that coveted level for the first time since December 20. However, the bears quickly intercepted the move and pushed BTC south almost immediately.
Bitcoin has remained inches from $17,000 ever since and hasn’t made any big moves as trading volumes have declined as on previous weekends.
Consequently, BTC’s market cap is just over $325 billion, while its dominance over alts is 39.6%.
BTCUSD. Source: TradingView
ApeCoin marks monthly maximum
The best performer in the past week has been Lido DAO (LDO), as the popular DeFi project started a battle with MakerDAO for the TVL throne. While the latter has regained its top position as of now, LDO has shot up by double digits in a week. The last 24 hours brought another 6% rise, leading to another multi-month high at over $1.6.
ApeCoin and Solana are two other notable gainers on a daily scale. Both are up between 3 and 4%. APE jumped to its highest price position since December 13, while SOL approached $14 once again.
Larger-cap alternatives are significantly less volatile. Despite a minor daily pullback, Ethereum is still above $1,250 and Binance Coin is above $260.
OKB is the one that has lost the most ground among the 15 main assets, after a daily fall of 1.3%. However, the crypto market capitalization is still close to $825 billion.
Overview of the cryptocurrency market. Source: quantify crypto
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TradingView cryptocurrency charts.
This post ApeCoin Charts Monthly High, Bitcoin Calms Below $17K (Weekend Watch)
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