Bitcoin (BTC), volatility continued on December 23, while a plunge to $ 22,800 led to a lightning-fast rally towards classic $ 24,000 resistance.
BTC’s dominance is its highest since late 2019
At press time, the pair was trading around USD 23,700 after it briefly rallied above the USD 24,000 sell levels. All of this happened in the same few hours when Bitcoin went from its current level to $ 22,800 and back again in a matter of minutes.
With volatility evident, attention turned to the outlook for altcoins as problems at Ripple pushed BTC’s dominance to a year high.
“Historically, we created a top structure in December, after which we had a great first quarter for altcoins,” said Michaël van de Poppe, analyst at Cointelegraph Markets. noticed to Twitter followers about Bitcoin dominance action.
Altcoins clashed in another tough December
Meanwhile, the largest XRP holder Ripple is facing one new lawsuit from US regulators on possible unlicensed securities sales. Should the Securities and Exchange Commission (SEC) to win his case, analysts worry that XRP trading will be effectively destroyed due to the legal ramifications.
Earlier today, Cointelegraph noted that a major inventory effort by institutional giant Grayscale failed to boost market mood after the company added $ 285 million worth of BTC to its assets under management on Tuesday.