Xmas Market Analysis: BTC Remains At $50K, Matic Surges By 7%

The Xmas market analysis shows that Bitcoin remains calm at $50K and ETH close to $4000 but MATIC is the one that surged by 7% over the weekend so let’s read more in today’s latest altcoin news.

After nearing $52,000 earlier this weekend, Bitcoin lost some ground but still stands near the $50,000 coveted mark. The other altcoins are calm as well with ETH closing to $4000 while MATIC surged by 7% on a daily scale. Days before Christmas, the main cryptocurrency dropped to $48,000 after failing to surpass the $50,000 price point but the bulls then came at play and pushed the asset north. In the next few hours, Bitcoin started adding more value and surged above its nemesis level. It kept increasing and neared $52,000 which became the highest price line in over two weeks.

If failed to continue upwards and started losing value gradually. It then dipped below the $50,000 price range and now it stands at this level once again, BTC’s market cap is under $950 billion. Ethereum had a hard time below $3800 before the Xmas season made it surge above $4100 during the market recovery. The second-biggest crypto retraced slightly and now stands at just over $4000. Binance Coin is also down by 1% to $540 and most of the larger-cap altcoins are also stable. Cardano, Solana, Terra, and Polkadot are in the green while Ripple, Dogecoin, and Shiba Inu lost some minor gains.

The Xmas market analysis shows that Avalanche lost the most in one day and it is down to $100 while on the contrary, MATIC increased by more than 6% and it is now trading near $2.7. More gains were evident from Cosmos by 12% and Audius by 8%. the crypto market cap is down by $30 billion to $2.250 trillion.

As recently reported, After dropping to $48,000, BTC went on a roll and added some more value in one day. The altcoins are in the green with Terra stealing the show after a double-digit surge to a new high at $100. The main cryptocurrency tried its hand with the coveted $50,000 mark on a few occasions in the past few weeks with almost no success but the latest failed attempt came two days ago when BTC was stopped below this level. The rejection drove the asset south once again to $48,000 but this is where the bulls came out to play and changed the entire landscape.