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Home » Market Updates » BTC Rejected at $59K Once Again: Terra (LUNA) Soars 60% Weekly to New ATH (Market Watch)

BTC Rejected at $59K Once Again: Terra (LUNA) Soars 60% Weekly to New ATH (Market Watch)

Author: Jordan Lyanchev

Last Updated Dec 3, 2021 @ 09:51

While bitcoin continues to struggle below $59,000, Terra has added more than 60% of value in a week, resulting in a new ATH.

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Bitcoin tried its hand at $59,000 but failed once more and dropped by several thousand dollars. While most alts also stalled on a daily scale, Terra is among the best performers lately, which has resulted in tapping a new ATH at $65.

Bitcoin Fails at $59K Once More

As CryptoPotato reported on Monday, bitcoin initiated an impressive leg up, in which it added more than $4,000 in hours and exceeded $58,000. Shortly after, the cryptocurrency challenged $59,000 for the first time this week but to no avail.

After the subsequent rejection, BTC tried once again. This time, it even briefly surpassed the $59,000 line, but the bears stepped up and pushed it south.

The same scenario repeated yesterday as well. Bitcoin traded around $57,000 before it shot up and touched $59,000. However, it failed to conquer it and dumped below $56,000 hours later.

As of now, it has reclaimed some ground, and it stands around $57,000. Its market capitalization is still well below $1.1 trillion, and the dominance over the altcoins sits beneath 41%.

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BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Terra’s Latest ATH as Alts Stall

The second-largest cryptocurrency came roughly 1% away from tapping a new all-time high yesterday, but it couldn’t go above $4,800. It was also rejected at that line, and the bears have now driven ETH below $4,600 after a minor 24-hour decrease.

Binance Coin has lost a similar percentage (-3%) and trades around $620. Cardano (-3%), Ripple (-3%), Polkadot (-4%), Avalanche (-6%), and Shiba Inu (-6%) are all in red.

In contrast, Solana and Dogecoin see slight gains. Terra, on the other hand, is the best performer following a double-digit surge. Moreover, LUNA painted a new all-time high record just hours ago at around $65 as it’s up by 60% in a week.

More gains come from Voyager Token (35%), Stacks (27%), Curve DAO Token (19%), MATIC (13%), KuCoin Token (12%), and Nexo (11%).

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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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: Bitcoin (BTC) Price
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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

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