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December 5, 2022
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Bitcoin consolidation continues as BNB hits $600

Despite dropping to under $61,000 again, Bitcoin has calmed down to around $61,500. As its consolidation continues, Binance Coin passes $600 for the first time since mid-May.

The primary cryptocurrency hit a two-week high of about $64,500 on Nov. 2, but failed to rise toward its $67,000 peak. Instead, the bears moved forward and pushed down.

In the following days, Bitcoin dropped to $62,000. However, the situation worsened after the US inflation news, and Bitcoin suddenly dropped to $60,000. Your recovery it was so sharp, though.

In the last 24 hours, the bears have brought it down once more, and the cryptocurrency has dropped below $61,000. As of now, however, it has regained over $569 in value and is around a family price level – $61,569.

Bitcoin’s market capitalization is still above $1,150 trillion, while Altcoin dominance is down 43%.

BNB reaches a six-month peak

Most alternative currencies remained quite stagnant on a 24-hour scale. Ethereum, Solana, Dogecoin, Avalanche and Chainlink registered smaller gains. In contrast, Ripple, Cardano and Polkadot are slightly red.

Shiba Inu continues to lose value with another 10.42% dump since yesterday. As of now, SHIB is nearly 50% off its recent ATH and is just over $0.00005.

LUNA has increased 5.88% since yesterday and is currently above $50. However, Binance Coin is the most significant earner of the major titles.

BNB rose 8.7% and is trading at $603, the highest asset price level since mid-May. In addition, BNB’s market capitalization is close to once again reaching $100 billion.

The top 100 currencies have a new representative – Phoenix Global. The PHB soared 6,000% in one day to $0.9. However, cryptocurrency rumors circulate on Twitter that this is another pump-and-dump scheme.

CRO increased 24%, followed by Kadena (22%), Arweave (16%), OMG Network (16%), Enjin Coin (16%), The Graph (13%), Fantom (11%) and eCash (10% ).

As a result, cryptocurrency’s market capitalization has approached its record high of just $2,750 trillion.

Overview of the cryptocurrency market. Source: Quantify Crypto

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