Bitcoin has been experiencing declining trading volumes over the weekend, resulting in little to no actual price movements. Last week, Bitcoin’s price gains from December were erased as the asset plummeted to $92,000 on December 21. Despite bouncing back towards $100,000 on a couple of occasions, each attempt was met with rejection, ultimately causing the cryptocurrency to slump back down to $93,000. Currently, Bitcoin has stalled at $95,000 as trading volumes continue to decline, potentially signaling a blessing in disguise for BTC and other assets if whales continue to make big purchases. However, BTC’s market cap remains below $1.9 trillion on CoinGecko, with its dominance over the altcoins reduced to 54%.
While many altcoins suffered in the market recently, some have shown signs of recovery over the past 24 hours. Ethereum (ETH) has climbed above $3,400, XRP is close to $2.2, and Binance Coin (BNB) has defied market sentiment with a 2.5% jump to $718. Dogecoin (DOGE) has added over 3% of value, hovering close to $0.33, while Solana (SOL) and Solanium (SUI) have gained 5-6%. SOL is now trading above $195, and SUI is north of $4.25. Other notable gainers include Hedera Hashgraph (HBAR), Polkadot (DOT), Aave (AAVE), Alpha Finance Lab (APL), Internet Computer (ICP), and Memetic (PEPE). The total crypto market cap has recovered about $50 billion since yesterday and is close to $3.5 trillion on CoinGecko.
The lack of significant price movements in Bitcoin over the weekend has been a trend observed recently, with the cryptocurrency struggling to break past $100,000 despite multiple attempts. As Bitcoin’s market cap remains below $1.9 trillion, investors are eagerly anticipating whether whales will continue to make big purchases and potentially drive up the price of BTC once again. This decline in trading volumes could be seen as an opportunity for BTC and other assets to stabilize and potentially see growth in the near future.
Altcoins, on the other hand, have shown resilience in the face of market corrections, with several coins recovering from recent losses. Ethereum (ETH) has managed to climb above $3,400, while Binance Coin (BNB) continues to show strength with a 2.5% jump in price. Dogecoin (DOGE) has also seen a slight increase in value, aiming for $0.33. Additionally, Solana (SOL) and Solanium (SUI) have experienced notable gains of 5-6%, showing signs of recovery in the altcoin market. Overall, the total crypto market cap has risen by $50 billion since yesterday, indicating a positive trend in the market.
Despite the recent market corrections and declining trading volumes, altcoins such as Ethereum (ETH), Binance Coin (BNB), Dogecoin (DOGE), Solana (SOL), and Solanium (SUI) have shown resilience and recovered some ground over the past 24 hours. Ethereum has surpassed $3,400, while Binance Coin has defied market sentiment with a 2.5% price increase. Dogecoin has also shown signs of recovery, aiming for $0.33. Solana and Solanium have gained 5-6%, indicating a positive trend in the altcoin market. Additionally, other notable gainers include Hedera Hashgraph (HBAR), Polkadot (DOT), Aave (AAVE), Alpha Finance Lab (APL), Internet Computer (ICP), and Memetic (PEPE). With the total crypto market cap nearing $3.5 trillion on CoinGecko, the market is showing signs of recovering from recent losses and stabilizing.
