Bitcoin (Cryptography: BTC) When Ethereum (Cryptography: ETH) The global cryptocurrency market capitalization fell 0.5% to $ 2.4 trillion, trading in the red on Monday night.
What happened: BTC was down 2.16% in 24 hours to $ 49,745.50.Cryptocurrency at the top rose 7.1% this week
ETH, the second largest cryptocurrency by market capitalization, traded at $ 3,972.01 in 24 hours, down 2.48%. In a week, it rose by 2%.
Dogecoin (Cryptography: Doge) Traded at $ 0.18, 4.4% lower in 24 hours. This week’s meme coins are up 10.6%.
DOGE-Rivals Shiba Inu (SHIB) decreased by 0.3% in 24 hours to $ 0.000037 in 24 hours. Over the last 7 days, it has increased by 20.9%.
Notable movements among the major cryptocurrencies Cardano (ADA), up 1.7% at the press to $ 1.48. Cryptocurrencies soared 21.3% in a week.
According to CoinMarketCap data, the top three winners in 24 hours SushiSwap (Sushi), Immutable X (IMX), and Raven coin (RVN).
SUSHI was up 15.3% to $ 9.31, IMX was up 12.3% to $ 5.28 and RVN was up 11% to $ 0.109.
Related item: How to buy Bitcoin (BTC)
Important reason: Bitcoin broke above the $ 52,000 level on Monday, but couldn’t keep up the momentum. The crypto market does not see the same euphoria that traditional markets experience at the end of the year.
S & P rose and NASDAQ rose nearly 1.4% to close at 4,791.19 and 15,871.26, respectively.
The volume of Bitcoin on Monday remained muted. Bitcoin’s 24-hour trading volume is $ 24.3 billion, comparable to Sunday’s $ 20.9 billion, according to CoinMarketCap data.
Bitcoin’s sovereign supply, the number of coins held outside the exchange, reached a record high of 13.34 million BTC. Glassnode..
Bitcoin Sovereign Supply — Provided by: Glassnode
In terms of percentage, long-term holders (LTH) have confirmed that ownership has increased from 4.8% of sovereign supply to 74.8%. According to on-chain analytics firms, ownership of short-term holders (STHs) has dropped from 28% in January to 25.2% this month.
“Such on-chain [behavior] More commonly, it is observed in the Bitcoin bear market. This is an effective long period of redistribution of coins from the weak hands to those with stronger and longer-term beliefs, when you think about it later, “Glassnode said.
Meanwhile, Amsterdam-based cryptocurrency trader Michael van de poppe Cardano said on Twitter that he was approaching a “bottom”.
$ ADA It seems to hit the bottom. pic.twitter.com/xmo1q2hAvg
—Michaëlvan de Poppe (@CryptoMichNL) December 27, 2021
In another tweet, Van de Poppe said that 2022 would be “absolutely large”, but warned of “a big crash to kick everyone out.”
2022 will definitely be on a large scale.
Big runs are everywhere, and later in the year there could be a big crash to wipe out everyone.
Trade wisely.
Make a plan. I have a target. Achieve those goals and start making profits.
Please do it well.
—Michaëlvan de Poppe (@CryptoMichNL) December 27, 2021
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