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    Home » Market Updates » Market Watch: Bitcoin Amid $49K, Cardano (ADA) Spikes 6%

    Market Watch: Bitcoin Amid $49K, Cardano (ADA) Spikes 6%

    Author: Jordan Lyanchev

    Last Updated Dec 13, 2021 @ 09:49

    While bitcoin and most altcoins have remained relatively still since yesterday, ADA has jumped by 6%.

    Bitcoin’s consolidation continues as the asset is unable to overcome the $50,000 mark decisively. Most alternative coins are untypically stable today, with Cardano and Terra as the few exceptions. ADA is up by 6%, while LUNA is down by a similar percentage.

    Bitcoin Still at $49K

    The primary cryptocurrency displayed enhanced volatility in the past several days as it tried to overcome $50,000 on several occasions, but each time was met by a substantial retracement propelled by the bears.

    The last such example came on Friday following reports that the US has reached its highest inflation rates in approximately 40 years. Yet, BTC only touched $50,000 and dropped almost immediately.

    As a result, bitcoin found itself trading below $47,000 for the third time in a week. However, it bounced off rather nicely as reported yesterday and initiated another leg up that led to nearing $50,000 once more hours ago.

    As of now, though, the cryptocurrency is unable to break it and stands at just over $49,000, and its market capitalization is just shy of $950 billion.

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    BTCUSD. Source: TradingView
    BTCUSD. Source: TradingView

    Stable Alts: Cardano Spikes 6%

    The alternative coins were also quite volatile lately, but this is not the case on a daily scale. Ethereum dipped below $4,000 on a few occasions but now stands just over that line.

    Binance Coin is up by 2.5% in a day and sits at $565. Avalanche and Shiba Inu are also slightly in the green, while Cardano is the most significant gainer from the larger-cap alts. ADA spiked by 6% and has neared $1.35.

    In contrast, Solana, Ripple, Polkadot, and Dogecoin see minor losses. Terra, on the other hand, has dropped the most in a day – 6%. Consequently, LUNA now sits below $60.

    More fluctuations come from the lower- and mid-cap alts. Quant (24%), Gala (17%), NEAR Protocol (13%), and OKB (11%) lead the way in terms of daily increases.

    Somewhat expectedly, the crypto market cap is also relatively stable at $2.250 trillion.

    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 Cardano (ADA) 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. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

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