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BTC With Another $50K Rejection, ETH Fights at $4K (Market Watch)


cryptopotato.com 13 December 2021 10:42, UTC
Reading time: ~2 m

Bitcoin tried its hand once again at the $50,000 mark but, as with all recent previous attempts, failed. The altcoins are also indecisive in their movements, with most slightly in the red. Ethereum fights to stay above $4,000.

Another Day, Another $50K Rejection

The $50,000 nemesis struck again in the past 24 hours. Bitcoin was trading around $49,000, as reported yesterday, and initiated an impressive leg up that resulted in breaking above the coveted line.

Furthermore, BTC kept climbing and almost touched $51,000 for the first time in days. Yet, the cryptocurrency failed to remain above it and, in the following hours, dumped by $2,000 to its current position of around $49,000.

Ever since last Saturday’s crash when BTC dumped from $58,000 to $42,000, the asset has been unable to reclaim $50,000, despite trying on multiple occasions.

Its current price tag means that the market capitalization has declined once again, but it’s still above $900 billion.

Ethereum Struggles at $4K

The second-largest cryptocurrency has also seen better days. It went through a roller-coaster last week from $4,650 to $3,500 in hours before it bounced off rather well and spiked above $4,400.

However, the ETH bears also returned and pushed the asset south. As of now, it trades around $4,000 after another minor daily decline.

Binance Coin (-3%), Solana (-2.5%), Cardano (-2%), Dogecoin (-2%), and CRO (-1%) are also in the red from the larger-cap alts.

In contrast, Ripple, Polkadot, Terra, Avalanche, and Shiba Inu have painted minor gains on a daily scale.

Revain is the most significant gainer today. REV has skyrocketed by 40% and has neared $0.013. Oasis Network follows suit with a substantial 20% increase.

On the other hand, Quant, Decred, NEAR Protocol, and Gala have lost the most in a day – around 10%.

The cryptocurrency market cap tapped $2.3 trillion briefly yesterday, but it’s down to just over $2.2 trillion now.

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