• Bitcoin initiated another leg up late on Friday and tapped $23,500 but was stopped in its tracks and has returned to familiar ground.
• Most altcoins have charted more impressive gains, led by Avalanche, MATIC, OKB, Dogecoin, and others.
• Bitcoin was last week when the primary cryptocurrency skyrocketed from $21,000 to a multi-month high above $23,000.

The cryptocurrency market has been on a tear recently, with Bitcoin leading the charge. Last week, Bitcoin shot up 40% from its previous levels and touched $23,500 on Wednesday night, a four-month high. However, the bears managed to push the asset back down to $23,000, where it currently resides.

The past 24 hours have seen the alternative coins outperform Bitcoin, with Avalanche, MATIC, OKB, Dogecoin, and others charting impressive gains. Avalanche, in particular, has skyrocketed 14% since yesterday.

Bitcoin initiated the current leg up late on Friday and managed to break through the $23,000 barrier. This solidified its positive start to the new year, in which it has already shot up by roughly 40%. The past seven days were less volatile except for this one price pump on Wednesday night.

The bears managed to push Bitcoin back below $23,500, but the asset remains in a bullish trend. Analysts are confident that the primary cryptocurrency will continue to move to the upside in the coming weeks.

Altcoins have been in the spotlight in the past 24 hours, with Avalanche leading the pack. The asset has shot up 14%, followed by MATIC, OKB, Dogecoin, and others. It remains to be seen whether these alternative coins will be able to sustain their current levels or if the bears will take control in the coming days.

The cryptocurrency market has seen a lot of activity in the past week, with Bitcoin leading the charge. The primary cryptocurrency initiated a leg up late on Friday and managed to break through the $23,000 barrier, a four-month high. The alternative coins have also performed well during this period, with Avalanche, MATIC, OKB, Dogecoin, and others charting impressive gains. The bears managed to push Bitcoin back below $23,500, but the asset remains in a bullish trend. Analysts are confident that the primary cryptocurrency will continue to move to the upside in the coming weeks, with the alternative coins likely to follow.