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Dogecoin, Ethereum Spike as Bitcoin Holds Over $21,000

Major pieces traded in the green on Tuesday evening, as the global cryptocurrency market hit $991 billion, as of 8:30 p.m. EST.

Cryptocurrency Earnings (+/-) Price
Bitcoin +0.97% $21,217
Ethereum +1.21% $1,573
Dogecoin +1.91% $0.084

What happened: Bitcoin BTC/USD was above the $21,000 mark at the time of writing, recording weekly gains of 25%, while Ethereum ETH/USD was trading above the $1,500 level with a 23% increase over the past seven days.

crypto meme Dogecoin DOGE/USD increased by 1.91% in the last 24 hours.

Cryptocurrency Earnings (+/-) Price
caspar +16.15% $0.03
shiba inus +13.18% $0.0000117
GALA +9.68% $0.05
EthereumPOW +9.39% $4.12
Helium +7.67% $3.23

US stocks closed at mixed levels as investors digested fourth-quarter earnings reports from banks, including Goldman Sachs. The Dow Jones The industrial average (DJIA) fell 1.1%, the S&P 500 slipped 0.2% and the Nasdaq Compound increased slightly by 0.1%.

Cryptocurrency bank Silvergate Capital on Tuesday reported a net loss of $1 billion for the fourth quarter.

Sam BankmanFried based FTX said $415 million worth of cryptocurrency was transferred by hackers of its international and American trade.

Learn more: Best Crypto Day Trading Strategies

In his recent note, Arcane Research rated last week’s crypto market as “remarkably strong and lively,” but urged caution, saying “in the short term, the momentum appears to be overextended.”

“Bitcoin rallies as central banks around the world show signs that they are close to the end of their respective tightening cycles. Investors are slowly moving back into the crypto as the global crypto market targets level again $1 trillion. Contagion fears have subsided and many crypto traders are focusing on this breakout,” said Edouard Moya, Senior Market AnalystThe OANDA Americas, in a note seen by Benzinga.

Whales accumulated a total of $4.4 billion worth of BTC when it started to decline from the $16,000 level seen last month to its current level of $21,000. According to data from on-chain analytics firm Santiment, Bitcoin shark addresses holding between 10 and 100 BTC were the first to start accumulating, adding 105,600 coins worth over 2.2 billion. dollars, in just 10 weeks and halting BTC’s decline at $16,000.

Pseudonymous crypto analyst Caleo warned that many late bulls could turn bearish again if Bitcoin retests $19,000.

Read more : Bitcoin, Ethereum extend rally, Dogecoin lower: Analyst says Apex Coin could be ‘looking for a sweep’ of $21,600

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