Bitcoin unable to top $17K

Bitcoin attempted to breach $17,000 but was stopped just short of the mark.

Following the recent gains, Solana has taken a breather, whereas Ethereum Classic and NEAR Protocol have increased by more than 5% daily. After a quiet end to 2022, bitcoin was quiet at the start of the new year, hovering around $16,500. The overall market volume was down, which was to be expected given that it was Sunday.

The landscape began to shift on Monday when BTC began to add value. It first jumped to $16,700, a local high, and then continued to rise towards $16,800 later in the day.

The bulls stepped on the gas in the following days, eventually pushing the primary cryptocurrency to under $17,000 hours ago. This is the highest price for bitcoin since December 20. Nonetheless, the asset failed to surpass $17,000, at least for the time being, and now sits a few hundred dollars below that level. Its market cap is still well above $320 billion, but it has a 39.6% share of the alts.

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Solana and other altcoins have seen significant price gains in recent days. However, the former top-10 crypto asset has retraced nearly 5% and is trading around $13.

OKB was another strong performer, but it has taken a slight hit and is now trading well below $30.

Daily, Ripple, Cardano, Polkadot, Litecoin, Tron, and Uniswap are all red.

Binance Coin has stayed above $250, while Ethereum is still hovering around $1,250. NEAR Protocol and Ethereum Classic are the top performers among the larger-cap alts today. Both are up more than 5% and are trading at $5.9 and $19, respectively.

As early adopters of cryptocurrency saw their investments pay off significantly, the world of Bitcoin (BTC) has produced several millionaire success stories. However, the recent volatility in Bitcoin has resulted in significant losses for millionaire holders.

The total number of Bitcoin millionaire addresses as of January 2, 2023, was 28,007, a decrease of approximately 71.73% or 71,085 addresses from January 2, 2022. The number of millionaire addresses was 99,092 at the start of last year.

Source: Finance Brokerage