Terra Luna Classic Skyrockets 15% Daily, Bitcoin Aimed at $17K (Market Watch)

The cryptocurrency market has been pretty quiet over the last day, which was maybe to be expected considering the holiday season. The daily trading volume is declining, which is another indicator of this. Some cryptocurrencies did, however, manage to record large gains.

BITCOIN (BTC) BREAKS THE $17K BARRIER AND AIMS FOR $18K IN THE SHORT TERM

Bitcoin (BTC) managed to surpass $17,000, inevitably escaping the price range of recent days and reaching a three-week high. The surge was brought on the information that numerous US service industries experienced a slowdown. Market participants in both traditional and digital markets interpreted it as a sign that the FED would relax its tight reins over financial conditions.

It is clear from looking at the past two months’ events that Bitcoin (BTC) has been unable to move beyond the $16k–$18.5k range. The coin was able to pass the $17k resistance level thanks to the initial increase. Currently, it is commonly accepted that the coin will soon cross the $18,000 resistance.

Ripple is up 5%, LUNC Soars 14%

With a few minor outliers, the majority of the altcoin market remained quite tranquil.

Ripple’s XRP, which was in the top 10, had the best performance. It managed to rise significantly in the last 24 hours by 5.6% and is now trading at roughly $0.37.

Charts for ETH, BNB, DOGE, Cardan, and Polygon all show little variations; nothing too significant.

Terra Luna Classic (LUNC), which is ranked in the top 100 coins by total market cap, has performed best elsewhere, rising about 15% over the previous day. QNT and LDO are also seeing 8%+ growth that are noteworthy.

The poorest performer today is Chain’s XCN, which is down 5% on the other end of the spectrum. 3.5% less NEXO was sold.