DOGE soars 6%, BTC stuck at $17,000 amid low trading volumes (Weekend Watch)

As typically happens over the weekend, trading volumes have declined, resulting in little or no price movement for BTC.

Most altcoins are in a similar position, with a few exceptions. Dogecoin is one of them, after a daily increase of 6%.

Boring Bitcoin at $17,000

Last weekend was pretty boring in terms of price action, and BTC spent most of it around $16,500. Monday started with price falling towards $16,000, but the bulls intercepted the move and did not allow further declines.

More volatility was expected mid-week when US Fed Chairman Jerome Powell announced the latest interest rate hike, along with the country’s jobs report, which came out on Friday.

However, both events did not provide much price action unlike previous occasions. Bitcoin remained relatively calm at around $17,000 except for a price pump above that level to hit a two-week high.

As the current weekend approached and arrived, BTC soared to $17,000 and stayed there. Trading volumes are down again. Bitcoin’s market cap is still below $330 billion, while its alts dominance is 38.3%.

BTCUSD. Source: Trading View

DOGE jumps 6%

Most altcoins mimicked BTC’s performance over the weekend, with a lack of substantial movement.

Ethereum lost about 1% in value in the last 24 hours and fell to $1,250. Binance Coin, Ripple, Cardano, Polygon, Polkadot, Shiba Inu, Litecoin, and OKB are all about the same as yesterday.

Dogecoin is the only exception to larger cap alts. OG memecoin is up 6% in one day and trading above $0.1.

CELO and NEXO also gained impressive percentages daily, up 16% and 10%, respectively.

Overall, however, the crypto market cap remained in the same place at $855 billion on CoinMarketCap.

Presentation of the cryptocurrency market.  Source: Quantify Cryptography
Presentation of the cryptocurrency market. Source: Quantify Cryptography

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Cryptocurrency charts by TradingView.

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