Bitcoin (BTC) maintained volatility on December 23, as the $ 22,800 dip triggered a lightning rally to the classic $ 24,000 resistance.
BTC’s dominance is the highest since the end of 2019
Data from Cointelegraph Markets, Coin360 and TradingView tracked BTC / USD as factors including panic among XRP traders made unstable conditions prevail.
In the press, the pair was trading at 23,700 dollars, after briefly going above the sales levels, at 24,000 dollars. All of this happened in the same few hours that saw Bitcoin go from current levels to $ 22,800 in a matter of minutes and back.
With obvious volatility, attention turned to the prospects of other currencies, as the problems at Ripple caused BTC’s dominance to increase to one-year highs.
“Historically, we made a top structure in December, after which we had a wonderful first quarter for altcoins,” Cointelegraph Markets analyst Michaël van de Poppe He commented to Twitter followers on the Bitcoin domination action.
Altcoins collapse in another tried December
Meanwhile, XRP’s largest holder, Ripple, is facing a new lawsuit from US regulators over potential sales of unlicensed securities. If the Securities and Exchange Commission (SEC) wins, analysts worry that XRP transactions will actually be destroyed because of the legal ramifications.
As Van de Poppe suggested, the Bitcoin advance came at the expense of the altcoins more, with various top ten chips recording daily losses. The biggest altcoin, Ether (ETH), was flat that day at $ 611.
Earlier today, Cointelegraph noted that a major storage effort by institutional giant Grayscale failed to boost market share after the company added $ 285 million in BTC to its assets under management on Tuesday.