Bitcoin Stuck Below $17,000, Helium Explodes 27% (Market Watch)

Bitcoin continues to show little or no movement and is stuck below $17,000.

Also, most cryptocurrencies are pretty stagnant on a daily scale, especially in caps. In contrast, helium rose by double digits from lower lid levels.

Bitcoin fails at $17K

After a short trip last week to over $18,000, bitcoin has reversed course and is starting to lose value fairly quickly. This sent the price down to $17,000 and below.

The most violent correction came earlier this week when the underlying cryptocurrency fell to a three-week low of $16,300, but the bulls made their presence felt, pushing the asset north by a few hundred dollars.

As a result, BTC attempted to drop $17,000 in the early hours of December 21 but was stopped. The subsequent decline pushed the stock below the level it is currently at as well, after a volatile trading day.

As such, BTC has a market capitalization of around $325 billion, and its dominance over alternatives is 40%.

BTCUSD. Source: TradingView

Helium steals the show

While altcoins are usually more volatile in nature, they have also stalled in recent days amid Coinbase warning that they too could suffer in the coming year. Ethereum managed to defend the $1200 level and sit above it again.

Ripple, Dogecoin, Cardano, OCP, Tron, Chiba Inu and Litecoin also fell slightly with gains of up to 1.5%.

On the other hand, Binance Coin and Polygon both charted slight losses. Terra Classic jumped over 50 coins in market cap by adding 5% in value.

Helium got the most out of the top 100 digital assets. HNT is up more than 27% in one day and is trading well above $2.

Overall, the cryptocurrency market cap has remained at around $800 billion.

Overview of the cryptocurrency market.  Source: Quantify Crypto
Overview of the cryptocurrency market. Source: Quantify Crypto

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