Bitcoin’s unfavorable price movements have continued over the past 24 hours, with the asset briefly falling below $ 46,000. While most of the larger cap alts are also slightly in the red, NEAR Protocol and Fantom made a tear with substantial double-digit pushups.
NEAR and FTM on a roll
Most of the larger cap alternatives have failed to produce significant price gains in recent times. Ethereum is a prime example as it traded above $ 4000 about a week ago. However, its value has started to gradually decline and now sits below $ 3,800 after another 1% drop since yesterday.
Binance Coin (-2.5%), Solana (-2.5%), Cardano (-2.2%), Ripple (-1%), Luna (-4.5%), Avalanche (-5.5 %), Dogecoin (-1%), Shiba Inu (-2.5%) and MATIC (-2%) are also all in the red.
Polkadot is the only exception among the top ten with an increase of 2%.
The situation with low and mid cap altcoins is somewhat different. Fantom and NEAR Protocol have stolen the show in the past 24 hours with similar price increases of 20%. Therefore, NEAR sits at $ 17, while FTM is close to $ 3.
Other daily increases come from Ravencoin (17%), Velas (14%), Secret (12%), Tezos (11%), Curve DAO Token (11%) and others.
The cryptocurrency’s market cap remained above $ 2.2 trillion, but fell by $ 30 billion in one day.
Bitcoin drops below $ 47,000
The main cryptocurrency has had its fair share of unfavorable price movements over the past few days. It rose a bit suddenly on Dec. 31 before plunging more vigorously from $ 3,000 in hours to less than $ 46,000.
He started the New Year on a more positive note and was close to $ 48,000 on two separate occasions. However, he did not cross that line and the ensuing rejection drove him south to $ 47,000, where he remained for a while, as reported yesterday.
Since then, however, the bears have taken control by pushing BTC again to an intraday low of $ 45,800. So far, bitcoin has rebounded and recovered $ 46,000, but it is still in the red on a daily scale.
As a result, the market capitalization of the asset has remained well below $ 900 billion.
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