Time to think. The situation seems blocked again at the end of the year in the cryptocurrency market. With a bitcoin which is difficult to detach from the symbolic level of $100,000. AND the fragile altcoin market faces $1.6 trillion in resistance who intends to give him a hard time. Result: a down almost 5% of the total market capitalization of the crypto market in the last 24 hours.
- Bitcoin is going through a period of hesitation and trying to maintain its position above $100,000.
- The altcoin market has suffered a significant decline, with total market capitalization down 14% over the past few days.
Bitcoin is still hovering above $100,000
FROM his passing $100,000 at the beginning of the month bitcoin he checked the price several times. But so far he is not really doing well detach yourself from this highly symbolic anchorwith the last ATH just above $108,000.
In a bull market, BTC performance remains timid for now in December. It actually shows small 5% which tries to compete with the positive waves from previous years.
Last down 3% recorded in the last 24 hours will not help the situation. Because even if BTC price remains above $100,000 at the momenthas sneakily broke this level american times.
It could be a sign of a the upcoming correction below the $100,000 level at the end of the year? The question will be answered in other closures in daily units of BTC. But currently, prospects for a “Christmas gathering” it doesn’t look like he’s been promised under the tree yet.
The altcoin market is suffering
At the same time, it seems that the altcoin market have the same direction as bitcoin. With the total market capitalization (TOTAL2) showing a significant decline since then its bounce at the $1600 billion resistance.
A situation that sees some of the flagship projects of the Top 100 record 10% fucks on average. And which significantly enables Uniswap (-10.3%) to regain a good advantage over the more volatile PEPE (-10.7%) tilting by 4 places.
However, some projects remain subscribers with positive returns. Like for example the PENGU token has recently hit the crypto community in droves by the NFT project Pudgy Penguins. Because it currently points to second place for best performance (12%) in the last 24 hours. This right after Bitget Token (17%) and in front very popular Athena (8.5%).
for now period seems to be hesitant in the cryptocurrency market. With altcoins whose total market capitalization is displayed down 14% over the past few days. And without a significant recovery over the next few days, another notable support could be found 8% lower !