Bitcoin dropped on Christmas Eve by roughly a grand and briefly went below $43,000 but has managed to bounce off above that level as of now.
Polkadot is the top performer from the larger-cap alts now, with a 5% increase on a daily scale. In contrast, SOL and AVAX have cooled off after the recent rallies.
After the unfavorable start of the previous business week, bitcoin went on the offensive on Wednesday and Friday and spiked above $44,000 during both trading days. However, the bears were quick to intercept the moves and didn’t allow any further increases.
Moreover, BTC couldn’t even maintain its position above the $44,000 line and was pushed back down a bit. In fact, the following few days were quite sluggish, as the cryptocurrency remained in tight range between $43,000 and $44,000.
Sunday evening, though, brought some pain for the bulls. BTC slipped by nearly a grand and dipped to $42,700 (on Bitstamp). Nevertheless, it reacted relatively well to this decline and recovered a big portion of the losses. As a result, bitcoin now trades inches above $43,000.
Its market capitalization, though, is down to $843 billion, while its dominance over the altcoins has dropped to under 51% on CMC.
Most larger-cap alts have retraced slightly on a daily scale, including minor declines from ETH, SOL, BNB, ADA, AVAX, DOGE, and LINK. In contrast, Polkadot stands strong with a 5% surge that has pushed DOT to over $9.
The weekly scale is quite different, though. Near Protocol and Mina lead the charge with massive 80% surges.
Optimism and Sei follow suit with 70% increases, while SOL is up by 60% within the same timeframe. In fact, Solana’s native token has become the fourth-largest digital asset, with a market cap of almost $50 billion.
The total crypto market cap has added almost $100 billion over the past week and is currently well above $1.650 trillion on CMC.
