The world of cryptocurrency can be a dizzying ride, can’t it? Just when you think you’ve got a grip on the market, it throws a wild curveball—like Bitcoin shooting past $102,000 only to plummet by over ten grand just days later! Amidst all this chaos, it seems that the so-called “whales,” or major investors, are playing a different game entirely. They’re unfazed and have been busy accumulating key tokens like XRP and DOGE even as the crypto rollercoaster lurches. Will this strategy pay off, and can these heavy-hitters bolster a swift rebound for these assets? Grab your favorite drink, sit tight, and let’s dive deeper into the fascinating dynamics shaping this volatile landscape of digital currency! LEARN MORE
- Crypto markets went through a more volatile end of the week, but larger investors seem unfazed as they keep accumulating two of the biggest tokens by market cap.
- The question now is whether XRP and DOGE will rebound swiftly, given the massive purchases completed by the so-called whales.
It was a rollercoaster of a week for the entire crypto market, with BTC surging past $102,000 at the start of it only to dump by more than ten grand within two days to a multi-week low.
The altcoins followed suit, as DOGE, for example, stood close to $0.4 at one point this week but then plunged toward $0.31, representing a 22% retracement.
XRP went above $2.5 briefly on January 4 and to $2.47 on January 7, but the market-wide correction pushed it to a low of $2.2 on January 9 before it calmed to around $2.33 in the past 24 hours.