Will 2023 Lastly Finish Bitcoin Value’s Stagnancy Amid $17K?

With the tip of the 12 months approaching quick, the first cryptocurrency continues to stay caught at acquainted floor at simply over $17,000, begging the query if that’s about to vary anytime quickly.

Most altcoins are additionally fairly stagnant on a day by day scale, other than OKB, which has jumped by over 5% after the current OKX proof-of-reserve assertion.

Bitcoin Boring Beneath $17K

The previous week noticed a considerable value decline from bitcoin when the asset fell to a three-week low at $16,300 on December 20. Nevertheless, the bulls intercepted the transfer and pushed the asset again up by $500.

The US introduced its GDP information on Thursday, and the PCE numbers got here out on Friday, each of which had been anticipated to deliver some extra volatility to the market. Nevertheless, whereas the US inventory market went down, BTC remained comparatively flat, other than a short value drop.

The weekend began with bitcoin standing shut to $17,000, and the asset has not moved an inch since then. It trades at $16,800 as of now as effectively on low buying and selling volumes.

Considerably expectedly, its dominance over the altcoins and its market cap haven’t moved both. The previous stands at 40%, whereas the latter is at $325 billion.

BTCUSD. Source: TradingView
BTCUSD. Supply: TradingView

OKB Stands Out

Many of the altcoins have failed to provide any important actions prior to now two days as effectively. Ethereum had a battle with $1,200 earlier this week, which it appears to be successful as far as it trades $20 above that line.

Binance Coin, Cardano, Ripple, Dogecoin, Shiba Inu, Polygon, Polkadot, and Tron are basically on the identical value spots they had been yesterday, with swings of lower than 1%.

OKX’s native cryptocurrency is the very best performer from the larger-cap alts, just some days after the change printed its newest proof-of-reserve report, displaying a 101% reserve ratio. OKB is up by over 5% on a day by day scale and trades at $23.

With the shortage of any massive strikes, the crypto market cap stays caught at $810 billion.

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

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Cryptocurrency charts by TradingView.

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