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Home » Market Updates » Market Watch: Bitcoin Sees Zero Move Weekly, Litecoin Jumps 5%

Market Watch: Bitcoin Sees Zero Move Weekly, Litecoin Jumps 5%

Author: Jordan Lyanchev

Last Updated Dec 27, 2022 @ 09:31

Litecoin is today’s top performer, with a substantial 5% increase.

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With the new week starting, bitcoin’s price has remained stuck around $16,800 and is actually at the same place it was seven days ago.

The altcoins are also very quiet, with Litecoin emerging as the only notable gainer from the larger-cap ones.

Bitcoin Stays Flat

Last week began with a price drop of $16,300, which became BTC’s lowest position in about three weeks. However, the asset recovered its lost ground and returned back to $16,800.

The following days were quite calm, even though the US had to disclose two important stats. The first, an increase in the GDP for the third quarter of the year, pushed the entire stock market south, but BTC remained resilient.

The second, the PCE inflation data, brought some volatility but was short-lived, and bitcoin went back to $16,800. The weekend saw no price movements either, as the trading volumes were down. The only attempt came hours ago when BTC headed for $17,000 but was stopped in its tracks.

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As such, the cryptocurrency now trades at precisely the same price spot as it was a week ago. Its market capitalization has stalled at $325 billion, and its dominance over the alts is flat at 40%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

LTC Pops Up 5%

Although more volatile in nature, the alternative coins have failed to produce any significant movements as well.

Ethereum is slightly in the red on a daily scale but stands firmly above $1,200 after reclaiming that line earlier this week. BNB, OKB, Dogecoin, Tron, and Shiba Inu have also painted minor losses.

Ripple, Cardano, MATIC, and Polkadot are slightly in the green, on the other hand. Litecoin is the only notable gainer from the larger-cap alts. LTC is up by over 5% in a day and trades close to $70.

LUNC has doubled down on its recent form and has jumped by almost 6% once again to $0.0002.

Nevertheless, the cumulative market cap of all crypto assets sits calmly at $810 billion for several days straight.

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.
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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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