After A Disappointing Christmas, Bitcoin Price Consolidates Around $7,200: Thursday Crypto Market Watch

After having a gloomy Christmas, the only relief for traders today is that Bitcoin is still holding support at the $7200 region. After touching $7,700 a few days ago, BTC is currently trading above $7,200.A decline below $7,000 will, in no doubt, be stressful for traders who are already disappointed with the Christmas market outcome. 

The rest of the crypto market is in a mixed state, with significant altcoins posting either slight profits or loss.Ether (ETH) has lost a significant amount of its value. The coin traded above $130 a few days before Christmas but is currently trading at $126.36, a 0.76% gain on the day. 

The third-largest coin by market cap, XRP, is tussling between the bears and bulls,with its price now hovering around $0.189. If the bulls succeed, then the price could break above $0.19 in the next few hours.

btcusdBTC/USD. Source: TradingView

Total Market Capitalization: $191 Billion | Bitcoin Market Capitalization: $131Billion | Bitcoin Dominance: 68.9%

Major Crypto Headlines

The YouTube Ban Escalates As More Popular Cryptocurrency Channels Get Penalized. The video-sharing platform is seemly on a crackdown against promoters of cryptocurrencies on its platform and has deleted the videos of more than 20 cryptocurrency-related channels. According to Youtube, the deleted videos are “harmful or dangerous content” and “sale of regulated goods.” 

Bank Of Russia Tests Own Stablecoin In A Regulatory Sandbox. The Central Bank of Russia is close to launching its digital currency as new reports reveal that the bank is currently running tests on stablecoins backed by real assets in a regulatory sandbox. 

Ethereum: Fears Vitalik Buterin Selling 90K ETH as $25M Hits Exchanges. A transfer of 92,000 ETH ($11.5 million) from a single wallet yesterday has caused fear and panic among Ether users that Vitalik Buterin plans to sell off his Ether holdings. 

Significant Daily Gainers and Losers

TOMO (21.36%)

Despite the splash of red across the top 100 crypto market, Tomochain (TOMO) managed to secure a massive 21.36% gain against the USD, a perfect Christmas gift for traders. The cryptocurrency is currently trading at $0.69, with a daily volume of $23,202,446. TOMO has been performing quite well over the last few days, and it will be listed for trading on the MXC exchange tomorrow.

MANA (8.07%)

MANA, the native cryptocurrency of Ethereum-based virtual reality platform Decentraland, is posting 8.07% gains against the dollar over the last 24 hours. At the time of writing, the token is trading at $0.032. The project has been gaining attention, and they recently completed a voting activity to determine the implementation of DAO and LAND management. 

HEDG (-12.11%)

A 12.11% decline today places HEDG traders as the most significant losers in the 100 crypto market. Although HEDG is down on the daily chart, the token is recording slight gains on the 7-day chart. HEDG is currently exchanging hands at $1.51 per token while holding a market cap of $435,631,759.

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Cryptocurrency charts by TradingView.
Technical analysis tools by Coinigy.

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