ApeCoin Charts Monthly High, Bitcoin Quiet Below $17,000 (Weekend Watch)

Bitcoin continues to fail to surpass $17,000 despite briefly bouncing above this level yesterday.

Altcoins have also calmed down after notable gains earlier in the weekend. However, ApeCoin has marked almost a monthly high.

Bitcoin stalls below $17,000

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

The next few days were similar, with BTC adding a few hundred dollars. This culminated in a price jump towards $17,000, but Bitcoin failed to challenge this line until early Saturday morning.

At this point, the asset was finally able to reach this coveted level for the first time since December 20th. However, the bears were able to quickly intercept the movement and pushed BTC south almost immediately.

Bitcoin has since been inches from $17,000 and hasn’t made much of a move as trading volume has tumbled like it has over the past few weekends.

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

BTCUSD. Source: TradingView

ApeCoin marks monthly high

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

ApeCoin and Solana are two other notable gainers on the day. Both are up 3-4%. APE jumped to its highest price position since December 13, while SOL once again approached $14.

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

OKB lost the most ground among the top 15 investments after a 1.3% daily decline. Despite this, the crypto market cap is still close to $825 billion.

Overview of the cryptocurrency market.  Source: Quantify Crypto
Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.

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