Bitcoin initiated another attempt to overcome $17,000 yesterday but was stopped in its tracks as it has been in the past several times.
The altcoins have retraced following a few positive days, with Tron, QNT, and LDO losing the most value daily.Bitcoin ended the horrific 2022 with a drop below $16,400 on Friday, which was a multi-week low. As New Year’s Eve approached, the asset recovered some ground and returned back to $16,500. The next few days were calm until Monday, when BTC finally began to increase in value.
After adding around $200 in the next day or so, bitcoin kept climbing and neared $17,000 hours ago. This became its highest price point since December 20.and finally overcome that level, though, the bears came to play and reversed BTC’s trajectory.This is all you need not to miss any price action in the raging crypto markets.
In contrast, Dogecoin, Polygon, Ripple, Litecoin, Shiba Inu, Uniswap, and Avalanche have all declined by up to 4%. TRX is down by 8%, perhaps due to Justin Sun’s relation with the struggling crypto platform Huobi.All of these price drops have resulted in a $5 billion decline in the cumulative market capitalization of all crypto assets, which is now down to $815 billion.