Wednesday, December 8

Bitcoin Bulls Challenge $66K as Crypto Market Recovers $100B in a Day (Market Watch)


Following a few days of adverse price developments, bitcoin has finally gone on the offensive and challenged $66,000. Most altcoins are slightly in the green as well, with Ethereum reclaiming $4,700 and SOL trading above $240.

Bitcoin Eyes $66K

Ever since last week’s record of $69,000, the BTC landscape seemed gloomy. The cryptocurrency failed to continue upwards and lost roughly $7,000 in the following few days. This culminated in a drop to a weekly low of just over $62,000 during the weekend.

Bitcoin attempted a brief recovery on Sunday and touched $65,000 before the bears pushed it south once again, this time to $63,500.

This is where the situation changed once more as BTC started to appreciate in value rapidly. It added several thousand dollars in hours and even exceeded $66,000 where it’s currently situated as well.

BTC’s market capitalization has risen back to $1.250 trillion, while the dominance over the altcoins stands still at just over 43%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

ETH Above $4.7K as CRO Explodes 25%

The alternative coins also suffered in the past few days, with Ethereum dipping below $4,500. However, the second-largest crypto has gained more than 3% on a 24-hour scale and has reclaimed $4,700 as of now.

Solana’s increase is somewhat similar, and SOL now stands above $240. Ripple, Binance Coin, Cardano, Shiba Inu, and Avalanche are also slightly in the green.

Litecoin has added more than 9% of value in a day and has surged above $270. CRO has gained the most from the top 20 coins with a massive 25% surge to $0.50. In contrast, Dogecoin is down by 2.4%, while Terra stands still.

Further price gains come from WAX (34%), Ankr (20%), TRON (13%), KuCoin Token (11%), VeChain (11%), and Telcoin (10%).

Consequently, the cryptocurrency market capitalization has recovered roughly $100 billion in a day and has gone above $3 trillion on CoinGecko.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.



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