Weekend Watch: Litecoin Soars 7.5% to 8-Month High, Bitcoin Stands Above $23K
Despite failing to overcome $23,500 once again in the past 24 hours, BTC is still slightly in the green today and stands above $23,000.
The altcoins are quite calm today, as only Litecoin stands out as a notable gainer.
Bitcoin Firm Above $23K
The start of last weekend saw bitcoin’s price surge from $21,000 to and beyond $23,000. Somewhat expectedly, reaching the latter meant tapping a multi-month high since BTC was stuck around $17,000 for months.
The cryptocurrency spent most of the week in a range between $22,000 and $23,000, aside from a couple of brief price pumps. The most notable one took the asset to $23,800, which became the new highest price point since September.
However, each attempt was intercepted quickly by the bears, and they didn’t allow new local peaks. Then came the US GDP data and the PCE numbers, but they didn’t bring any substantial volatility.
As such, BTC entered the weekend at just under $23,000. It shot up to $23,300 (on Bitstamp), and even though it has retraced slightly since then, it still trades north of $23,000 as of now.
Its market cap has jumped to just over $445 billion, while its dominance over the alts sits at 42.3%.
LTC 7.5% Up
Litecoin stands out as the most impressive performer from the larger-cap altcoins today. It is up by over 7% and trades close to $100, which is its highest price point since May 6.
LEO and APT are the other larger caps well in the green today. Both are up by around 3% and trade at $3.7 and $18, respectively.
Ethereum, Binance Coin, Ripple, Cardano, Polygon, and OKB are quite calmer today, with gains of up to 1%.
With the rest of the market trading with little-to-no volatility now, it’s somewhat normal that the cumulative market cap of all crypto assets is quiet at just over $1.050 trillion.
Cryptocurrency Market Overview. Source: Quantify Crypto
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Filed under: Bitcoin - @ January 29, 2023 9:29 am