Bitcoin experienced an increase in value at the start of the new year, with prices reaching a local high of around $16,700 on Monday. Over the following days, the value of the primary cryptocurrency continued to rise until it reached just under $17,000 hours ago.
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| BTCUSD. Source: TradingView |
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Despite the substantial progress, Bitcoin was unsuccessful in crossing the $17,000 mark and is currently sitting a few hundred dollars below that level. The total market capitalization of Bitcoin is still well above $320 billion, with its overall dominance of the cryptocurrency market remaining relatively high.
The cryptocurrency market has seen a variety of movements over the past few days, with Solana having a notable price surge following positive words from Vitalik Buterin. However, it has since retraced by almost 5% and trades at around $13.
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| Cryptocurrency Market Overview. Source: Quantify Crypto |
Other digital assets such as OKB, Ripple, Cardano, Polkadot, Litecoin, Tron, Uniswap and Binance Coin have seen drops in their prices, with the latter remaining above $250. Ethereum is still trading close to $1,250, while NEAR Protocol and Ethereum Classic are the best performing larger-cap alts, up by over 5%. In total, the crypto market cap is hovering around $820 billion.
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, Ethereum Classic Sees Modest Increase ( 5%)){kind=link}
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