Dogecoin Soars as Bitcoin Falls and Musk Fights Lawsuit

Bitcoin's price has remained within its range of $27,200 to $28,400, currently trading at $27,500, down over 2% from 24 hours ago. The cryptocurrency needs a bullish catalyst to break above the $30,000 level, but until a significant use case argument is made, prices could consolidate around the mid-$20,000s. Ether also slid 0.2% to hover around $1,787, while Dogecoin surged 16.5% after Twitter changed its logo to the Dogecoin symbol. Market liquidity has continued to worsen, with both Bitcoin and Ether's 2% market depth dropping by 50% and 41%, respectively, since the collapse of Alameda Research in November.