ApeCoin Charts Monthly High, Bitcoin Calm Below $17K (Weekend Watch)


Bitcoin continues to be unable to overcome $17,000, despite briefly jumping above that level yesterday.

The altcoins have also calmed following the notable gains charted at the start of the weekend. ApeCoin, though, has marked a near one-month high.

Bitcoin Stalls Below $17K

2022 brought little joy for the bitcoin bulls and the end of the year was quite similar, with the asset falling to a multi-week low of under $16,500. After a few calm days around New Year’s Day, the cryptocurrency began to increase in value on Monday.

The next few days were similar, with BTC adding a few hundred dollars. This culminated in a price jump toward $17,000, but bitcoin couldn’t challenge that line until early Saturday morning.

This is when the asset was finally able to tap that coveted level for the first time since December 20. However, the bears were quick to intercept the move and pushed BTC south almost immediately.

Bitcoin has remained inches away from $17,000 since then and has not made any big moves as the trading volumes have declined as with previous weekends.

Consequently, BTC’s market cap is just over $325 billion, while its dominance over the alts is at 39.6%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ApeCoin Marks Monthly High

The best performer in the past week or so has been Lido DAO (LDO), as the popular DeFi project began a battle with MakerDAO for the TVL throne. While the latter has taken back its first position as of now, LDO has skyrocketed by double digits within a week. The past 24 hours brought another 6% increase, leading to another multi-month high at over $1.6.

ApeCoin and Solana are two other notable gainers on a daily scale. Both are up by between 3-4%. APE jumped to its highest price position since December 13, while SOL has neared $14 once again.

The larger-cap alts are significantly less volatile. Despite a minor daily retracement, Ethereum is still north of $1,250, and Binance Coin is above $260.

OKB has lost the most ground from the top 15 assets, following a 1.3% daily decline. Nevertheless, the crypto market cap is still close to $825 billion.

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

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Cryptocurrency charts by TradingView.

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