Major currencies were largely unchanged as the weekend came to a close, with the global cryptocurrency market cap just over 24 hours at $ 2.18 trillion as of press time Sunday. in the evening.
What happened: Bitcoin (CRYPTO: BTC) traded 0.49% lower at $ 46,538.64 in 24 hours. Over the week, the apex coin is down 6.65%.
The second largest coin by market capitalization, Ethereum (CRYPTO: ETH), fell 0.79% to $ 3,918.13 in 24 hours. Over a seven-day period, Ethereum has fallen 4.45%.
Dogecoin (CRYPTO: DOGE) decreased 2% to $ 0.17 over 24 hours. Over the past seven days, the meme coin is down 0.37%.
DOGE's rival Shiba Inu fell 3.04% to $ 0.00003055 in 24 hours. In seven days, it has plummeted 16.12%.
The top three winners in 24 hours, according to CoinMarketCap data, were Decred, Harmony and Arweave.
Decred shot up 24.84% to $ 83.24, Harmony gained 18.7% to $ 0.2478, while Arweave was up 12.75% to $ 58.84 in the period.
See also: How to buy Bitcoin (BTC)
Because it is important: Cryptocurrency operator Lark davis tweeted on Sunday that the crypto market "will start to behave like tech stocks."
The #crypto The market will start to behave like tech stocks.
Lots of initial volatility, then we start to see basically just (with turbulence) as user bases continue to grow. For reference, Amazon hasn't seen cuts of more than 40% since 2011.
Crypto is maturing pic.twitter.com/I5GAnqTwgg
- Lark Davis (@TheCryptoLark) December 19, 2021
Davis gave the example of actions of Amazon.com, Inc. (NASDAQ:AMZN), which said it hasn't seen cuts of more than 40% since 2011.
Still, short-term technical data does not indicate holiday cheer, according to Delphi Digital.
"The sentiment is terrible, the momentum is weak, and all this talk about inflation and political uncertainty makes us yearn for optimism wherever we can find it," the independent research boutique wrote in an emailed note.
An example of political uncertainty was seen on Friday when the governor of the Central Bank of Russia Elvira nabiullina suggested the country could ban Bitcoin and other cryptocurrencies, indicating significant risks to retail investors and inherent volatility.
As for momentum, entering the weekend, traders "were hesitant to buy the decline," according to Edward moya, Senior Market Analyst at OANDA.
โMany traders are gravitating towards other currencies such as Avalanche, Solana, Polkadot and Hedera. If the focus is primarily on altcoins early next year, it may take a long time for Bitcoin to return to record territory, โMoya noted, in a note seen by Benzinga.
Meanwhile, long-term held or lost BTC has peaked in the past 11 months and accounts for 34.45% of the apex coin supply, according to Colin wu, a journalist.
According to Glassnode, the amount of BTC held or lost in the long term reached a high point in the last 11 months, representing approximately 34.45% of the total BTC supply. pic.twitter.com/bFltewN1AB
- Wu Blockchain (@WuBlockchain) December 19, 2021
