Bitcoin Bulls Greatly Influence the Crypto Market

  • The top virtual currencies were in a state of divergence at the start of trading.
  • BTC has observed an incredible leap of 18.18% throughout the past seven days.

On January 17th, the top virtual currencies were in a state of divergence at the start of trading. As the world crypto market cap dwindled by 0.84 percent to $982.47 billion in the preceding 24 hours. The total crypto market volume for that period was augmented by 17.74 percent to a value of $53.46 billion.

Bitcoin, the world’s largest digital currency by market capitalization, was up 0.72 percent over the last 24 hours and is now trading at $21,238.

Recently, Bitcoin has made significant gains, becoming a sought-after asset in the crypto space. BTC has observed an incredible leap of 18.18% throughout the past seven days and outpaced the cryptocurrency market considerably. Traders’ anticipation of strong demand has likely elevated investor enthusiasm, thus resulting in this change.

Bitcoin Maintains a Bullish Momentum

Even with the seemingly impossible resistance to BTC climbing above $21,238, indications point to its bullish position still being well-maintained; consequently, if its underpinning strength continues, the uptrend may not be deterred in the foreseeable future.

On the other hand, Ethereum, the second-largest digital currency by market valuation, raise 1.18 percent over the day to reach a value of $1,581.56.

In the last 24 hours, Solana has also captured people’s attention by trading as high as $23.8 and as low as $22.71. Solana is currently trading at $23.03.

Ripple was trading up 1.06 percent at $0.3875 at the time of writing. Meanwhile, EOS was down 0.37 percent, respectively. Concerning the top 100 digital currencies, 69 were trading in the green while 31 were in red, and the remainder were unchanged over the past 24 hours.

SHIB, the 13th largest crypto asset by market capitalization, was among the day’s top gainers, with a growth rate of 17.36 percent to reach a value of $0.00001231.

The aggregate amount held in DeFi was equal to $4.44 billion, 8.30 percent of the total crypto market’s 24-hour turnover. The volume for all stablecoins measured a mighty $47.99 billion, comprising 89.77 percent of the crypto sector’s daily trading activity.

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