Leading cryptocurrency bitcoin‘of (BTC) The drop, which started at $ 69,000, definitely brought a big setback for the cryptocurrency industry.
While many analysts expected that $100,000 would follow, BTC’s injection of up to $42,000 changed the direction in the market in a short time.
Now, it seems like an upward movement has started in the opposite direction.
As of now, Bitcoin has managed to conquer the $ 50,000 level again and is trying to hold on to $ 50,500 with a 3% increase in 24 hours.
Although this rise of Bitcoin and its rise above $ 50,000 is impressive, the main event is definitely seen in altcoins.
Altcoins Are Very Active
While Ethereum (ETH) and Binance Coin (BNB) kept their silence, altcoins with lower market caps were in full swing. wither (LEFT) 4%, XRP 6%, cardano (ADA) 8% and terra (LUNA) is up 7%, challenging the performance of leading cryptocurrencies.
Among the other cryptocurrencies, which are quite active in the top 20, it has increased by 10%. CRO, with 6% LINK and with 4.4% AVAX with DOGE exists.
On the other hand, it did not go unnoticed that with the beginning of the rises, the metaverse projects also moved seriously upwards.
Especially coins such as RACA and CEEK, which are in the lower ranks in terms of volume, made their investors smile today.
For now, it is seen that Bitcoin’s market dominance has decreased to 38% and the fear in the market has decreased and the appetite for repurchase has increased.
Bitcoin price $50,000 remain stable or $52,000 breakout will clearly ignite the fuse of a new altcoin rally.
The fact that this came at a time without volume on the eve of Christmas indicates that the rise may be planned.
*Not Investment Advice.