ICP Skyrockets 35% Daily, BTC Reclaims $42K and Eyes $43K (Weekend Watch)
ICP has stolen the show over the past 24 hours, followed by INJ, FIL, and STX.
Bitcoin reacted well to yesterday’s price drop to $41,300 and has gained a grand and a half in the following hours.
Most altcoins are also slightly in the green during the last day of 2023, with AVAX tapping $40 and SOL maintaining above $100.
BTC to Challenge $43K?
Bitcoin was trading higher last weekend, and even tried to overcome $44,000 on two occasions but to no avail. The subsequent rejections pushed the cryptocurrency south hard, and the asset fell to $41,600 on Tuesday.
The bulls intercepted the move and pushed BTC north by over two grand to just under $44,000. Another rejection followed by the end of the business week and Saturday that resulted in a price drop to a 12-day low of $41,400 (on Bitstamp).
Bitcoin has managed to defend its position above $41,000. Moreover, the asset has jumped by $1,500 since then and now stands close to $43,000 after a 2.5% daily increase.
Its market capitalization has soared to $836 billion, and its dominance over the alternative coins is back above 50% on CMC after declining by more than 1% in days.
ICP Steals the Show
Most altcoins slipped in value yesterday, but the landscape seems quite different today. Ethereum has increased to just over $2,300 after a minor daily jump. Binance Coin stands above $320 after a 2% pump.
Solana has maintained the $100 level following a 3% increase, while AVAX’s 4% jump has helped it retap $40. Similar gains are evident from XRP, ADA, DOGE, MATIC, TRX, and LINK. Polkadot’s native token has soared by 5% in a day and trades above $5.5.
Nevertheless, the most impressive daily gainer is ICP. The asset has soared by 35% overnight and trades well above $13. Next in line from the top 36 crypto assets are INJ, STX, and FIL.
The total crypto market cap has managed to erase yesterday’s losses and is back to $1.670 trillion on CMC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Price Faces Key Resistance Before $2 Target
August CPI "hot" just right? Wall Street intensively bets on Fed rate hike next week, Waller can't cry wolf this time
New "Fed News Agency" analyzes CPI: Core inflation has cooled annually, but short-term trends are picking up again. After the CPI release, at least two institutions that previously expected the Federal Reserve to keep rates unchanged next week have now shifted to expecting a rate hike. While Wall Street does not necessarily believe U.S. inflation is out of control again, more market participants think that, with disinflation stalling and oil prices rising again, the Fed needs to implement a precautionary rate hike as a policy adjustment. Divergence among institutions is emerging: will the rate hike in September be a precautionary move, or the start of a new tightening cycle? Whether there will be another hike in December remains a new suspense.
Saudi Arabia's key oil pipeline attacked on Thursday, sharp decline in Red Sea shipping through Bab-el-Mandeb; Houthi rebels claim to have captured 5,400 square kilometers in 9 days
According to American media, the attacked pipeline is responsible for transporting crude oil between Saudi Arabia’s eastern oil fields and export facilities on the Red Sea coast. Its core function is to help Saudi Arabia bypass the Strait of Hormuz for oil exports. According to data from Saudi industry media, only six vessels passed through the Bab-el-Mandeb Strait on Thursday, a significant drop from 30 vessels on the 9th. The spokesperson for the Iranian Ministry of Foreign Affairs confirmed that next Monday, Iran, Iraq, and other Gulf countries will meet in Oman to discuss the establishment of a secure commercial shipping route in the Strait of Hormuz.
Cardano holds key support at $0.197 as x402 integration boosts outlook
Crypto prices
More
