CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$27,759.00
  • ethereum
    ETH$1,898.66
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Opinions
    CryptoPotato
    CryptoPotato
    • Crypto News
    • Margin Trading
    • Guides
      • Bitcoin & Crypto Guides 101
      • Bitcoin For Beginners
      • Editorials
    • DeFi & NFT
    • Buy
    • Language
    • Crypto News
    • Bitcoin For Beginners
    • Cryptocurrency Guides 101
    • Editorials
    • Bitcoin & Crypto Margin Trading
    • DeFi & NFT News
    • Bitcoin Price Analysis
    • CryptoPotato Crypto Fund
    • Ethereum (ETH) Price Analysis
    • Ripple (XRP) Price Analysis
    • Market Updates
    • Interviews
    • Buy Bitcoin with Card
    Home » Market Updates » Bitcoin Struggles at $42K Ahead of New Week, AVAX Up 6% (Market Watch)

    Bitcoin Struggles at $42K Ahead of New Week, AVAX Up 6% (Market Watch)

    Author: Jordan Lyanchev

    Last Updated Jan 10, 2022 @ 15:05

    Bitcoin tried its hand at $43,000 but failed. Most altcoins are slightly in the green today – AVAX and MATIC with the most substantial gains.

    Following the latest price corrections, bitcoin attempted a quick recovery in the past 24 hours but was stopped at its tracks at nearly $43,000. Most altcoins are slightly in the green, while a few have produced more impressive increases, such as Avalanche and Polygon.

    Bitcoin Stopped Before Reaching $43K

    The primary cryptocurrency has been on a downtrend for several days. It traded above $47,000 on Wednesday before the bears took complete control over the market on Thursday.

    In a matter of hours, they pushed the asset down by $4,000, and BTC reached an intraday bottom of $43,000. Although this was already a substantial correction, the landscape only worsened in the following 48 hours.

    BTC lost another sizeable chunk of value on Friday and dropped to a three-month low of $40,500 on Saturday. It remained relatively calm on Sunday around $42,000 before the bulls attempted a quick recovery session that drove it to just shy of $43,000.

    However, bitcoin failed to overcome that line, and the subsequent rejection drove it to just under $42,000, where it sits now. As such, its market capitalization is still beneath $800 billion.

    Alicia Bakery
    CMO - A really good agency

    Did you like this market update?
    This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

    Invalid email address
    Your privacy is guranteed.
    Thanks for subscribing, you will get your first report in the next hours!
    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    Alts With Minor Gains

    The altcoins have suffered as well since Thursday. Ethereum traded above $3,800, but the market-wide retracement drove it to below $3,100. After this massive drop in days, ETH bounced off now sits above $3,150.

    On a daily scale, the situation with the alts seems a bit more optimistic. Binance Coin, Solana, Cardano, Ripple, Terra, Dogecoin, and Shiba Inu are all slightly in the green. Polkadot is up by around 4% and sits at $25.

    Avalanche and MATIC are the most substantial gainers from the larger caps. AVAX has added 5.5% of value and is just under $90, while MATIC has jumped by 6% to above $2.1.

    The crypto market cap is still around $1.960 trillion, meaning that the metric is down by almost $300 billion since Thursday.

    Cryptocurrency Market Overview. Source: Quantify Crypto
    Cryptocurrency Market Overview. Source: Quantify Crypto
    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Avalanche (AVAX) Price Bitcoin (BTC) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Jordan Lyanchev
    More posts by this author

    Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

  • bitcoin
    BTC$27,759.00
  • ethereum
    ETH$1,898.66
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    The Weaknesses of Ethereum VS Modern Blockchains: Interview With Radix

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    Why Didn’t ETH Dump After Shanghai? Interview With Nansen

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is PEPE Coin? Is This the Next Huge Memecoin?

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    What is the Ethereum Shanghai (Shapella) Upgrade? Everything You Need to Know

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    15 Months Later, What Changed Since November 2021? Interview With Phantom Wallet CEO

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Artificial Intelligence & Crypto Guide: Here Are the Top 5 AI Coins

    Footer Logo
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers
    Editorial Policy
    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top