Cardano and Dogecoin Spike 6% as Bitcoin Struggles at $33K (Market Watch)

Cardano and Dogecoin Spike 6% as Bitcoin Struggles at $33K (Market Watch)

After the most recent roller-coaster, bitcoin’s struggles continue as the asset seems stuck around $33,000. While most altcoins have also failed to produce significant gains, ADA and DOGE have jumped by impressive percentages.

Bitcoin Stalls Around $33K

The past several days reminded the community about BTC’s enhanced volatility. The asset went from a high of $36,000 all the way down to $28,500 in a matter of hours, which became its lowest price point in over five months.

Yet, that was not all, as it reclaimed more than $5,000 of value in hours as reported yesterday. The bulls kept pushing it upwards and bitcoin pumped to a daily high of just shy of $35,000.

However, after numerous more bearish signs, the cryptocurrency reversed its trajectory once more. It dropped by about $2,500, and despite recovering a few hundred dollars since then, it currently struggles just below $33,000.

Its market dominance has also declined by 0.5% since yesterday, as some alternative coins have charted impressive gains.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Cardano and Dogecoin Rise

Most alts mimicked BTC’s fluctuations in the past few days and have stalled or retraced in the past 24 hours. Ethereum, which dumped below $1,700 and then bounced back up to over $2,000, is down by 4% since yesterday. As a result, the second-largest crypto stands at just over $1,900.

Ripple (-1.5%), Polkadot (-4%), and Uniswap (-5%) are in the red as well, while Bitcoin Cash and Litecoin have marked minor gains.

Binance Coin is up by 2.5% to just shy of $300. However, Cardano and Dogecoin have displayed the most significant gains from the top ten. DOGE has jumped by 7% to $0.23, while ADA is up by 5% to above $1.3.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

Klaytn is the most impressive performer in the past 24 hours after a 35% pump. This comes after news that it was listed on Binance Launchpool.

More gains come from Ankr (22%), Quant (20%), TRON (15%), Bitcoin Gold (11%), and Huobi Token (10%). In contrast, Aave (-12%), Compound (-11%), Maker (-11%), NEAR Protocol (-10%), and RUNE (-10%) have declined by double digits.

editorial staff

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