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.
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.
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.Source