Bitcoin, Altcoins Sail on Calm Waters: Crypto Performance Report
- Bitcoin remains above $17k while altcoins’ volatility also takes a dip. Ether moves closer to $1,300.
- The worst performing tokens are Axie Infinity (AXS), Chain (XCN), Celo (CELO), and Bitcoin SV (BSV).
- The best performing cryptocurrencies are Helium (HNT), Stacks (STX), GMX (GMX), and Osmosis (OSMO).
- The total crypto market liquidation in the last 24 hours amounts to $8.06 million of which ETH makes up around $3.89 million.
The crypto market did not show much movement as another week ended with Bitcoin (BTC), the world’s biggest crypto coin, below the $20k price level. The volatility of the space has subsided, and the effects of crypto winter can be seen in the current price action of altcoins as well.
As what can be termed as one of the worst years for crypto seems to finally come to an end, investors try to gain an optimistic outlook for the upcoming year. Traders are awaiting for a surge in the trading volume of cryptocurrencies to confirm a breakout on either side but currently, nothing can be said accurately.
Any trade initiated in the last 24 hours would been the same keeping money in a bank, i.e., no gains or losses would’ve been incurred. As of 5:48 am ET, the price of the leading crypto coin in the industry, Bitcoin (BTC), is $17,172 with a price surge of just 0.06% in the last 24 hours. Meanwhile, the dominance of the oldest blockchain-based token is 38.55% while the trading volume of the coin has dropped 28.14%.
As seen in the chart below from PricePredictions, the world’s biggest crypto coin is trending upward on the hourly chart but the price jump is not very high. The chances of retaining $17k and turning it into support remain considerable but if BTC does not make a move towards $18k, a retest of $16k is also on the table.
The current state of the market is bearish, according to the data in the image below. On the other hand, 5 minutes ago, the trade would’ve resulted in gains.
The indicators for the Bitcoin (BTC) price action suggest bearishness for the shorter time frame of 5 minutes. However, for a time frame of 15, 30 minutes and 1, 2, and 4 hours, a short profit is a possibility.
According to the publicly available data, the crypto market’s Fear and Greed Index’s value has now dropped to 26, after rising from 26 to 26 as per our Crypto Market Performance Report for Dec. 10. Furthermore, the market sentiment reads “fear,” which has been the case since the collapse of the Terra ecosystem earlier this year.
Moreover, the market capitalization of the entire crypto space at the time of publication stands at $856 billion, and this value is up 0.26% in the last 24 hours. Moreover, the number of crypto coins is 22,000.
The world’s second-biggest crypto token, Ether (ETH), also did not show much promising price action. It is currently up 0.57% to $1,273, which is not very optimistic for investors. This is because the trading volume of the coin has dropped by 31.48% in the last 24 hours which means that traders need to confirm a breakout before placing trades.
According to the data from Coinglass, the total crypto market liquidation in the last 24 hours amounts to $8.06 million of which, Bitcoin makes up $926k while Ether makes up $3.05 million.
Excluding Bitcoin and Ether, the other top 10 cryptocurrencies in the industry are Binance Coin (BNB), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Polygon (MATIC).
Rest of the top 10 cryptocurrencies show mixed movements with BNB up 0.97% to $289.96; XRP down 0.46% to $0.3861; DOGE up 0.26% to $0.09684; ADA down 0.31% to $0.312; and MATIC up 0.25% to $0.9087.
On the other hand, the worst performing tokens in the last 24 hours among the top 100, excluding the top 10, are Axie Infinity (AXS), Chain (XCN), Celo (CELO), and Bitcoin SV (BSV).
Interestingly, AXS was down 2.24% to $8.22; XCN was down 3.86% to $0.03629; CELO was down 3.56% to $0.5953; and BSV was down 1.43% to $43.76.
Finally, the best performers in the top 100, not considering the top 10 cryptocurrencies are Helium (HNT), Stacks (STX), GMX (GMX), and Osmosis (OSMO).
HNT was up 2.03% to $2.16; STX was up 12.01% to $0.3062; GMX was up 6.58% to $55.63; and OSMO was up 12.76% to $1.01.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
