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October 8, 2022
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Bitcoin doesn’t go over $59,000 once again and Crypto Terra (LUNA) hits ATH

While Bitcoin continues to struggle to surpass $59,000, Terra has added more than 60% of the value in one week, resulting in a new ATH.

Bitcoin tried its hand at $59,000 but failed once more and dropped several thousand dollars. Although most Altcoins have also been paralyzed daily, the cryptocurrency Terra has performed well lately, which has resulted in getting the ATH for $65.

Bitcoin Fails to $59,000 Again

Yesterday, December 1st, Bitcoin started an impressive climb, which added more than $4,000 in hours and surpassed $58,000. Shortly thereafter, the cryptocurrency challenged $59,000 for the first time this week, but to no avail.

After the subsequent rejection, Bitcoin tried one more time. This time it briefly crossed the $59,000 line, but the bears intensified and pushed negatively.

The same scenario was also repeated yesterday. Bitcoin traded around $57,000 before shooting up to $59,000. However, he failed to win it and dropped below $56,000 hours later.

As of now, he has regained some land and is around $56,000. Its market capitalization is still well below $1.1 trillion, and its dominance over Altcoins is below 41%.

BTCUSD. Source: TradingView

Earth’s latest ATH as Alts Stall

The second largest cryptocurrency came about 1% from hitting a new record high yesterday, but it didn’t go above $4,800. It was also rejected on that line, and the bears now took the Ethereum below $4,600 after a small 24-hour reduction.

Binance Coin lost a similar percentage (-2.77%) and is trading around $622. Ripple (-3.35%), Polkadot (-4.8%), Avalanche (-3.02%) and Shiba Inu (-7.77%) are all in red.

In contrast, Solana and Dogecoin see slight gains. Terra, on the other hand, has the best performance after a double-digit wave. In addition, LUNA reached a new historical record just a few hours ago, around US$65, with a 60% increase in one week, at the time of this writing, it was being quoted at US$63.59 (10.22%).

More earnings come from Cardano (5.17%), Voyager Token (35%), Stacks (27%), Curve DAO Token (19%), MATIC (2.38%), KuCoin Token (12%) and Nexo ( 11%).

Mosaic Crypts
Overview of the cryptocurrency market. Source: Quantify Crypto

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