Is bitcoin losing it?

While the cryptocurrency market embraces the new year with a major recovery, setting a new all-time-high record at $667 billion, data shows the world's largest cryptocurrency by market cap may not be counted as a major contributor.

According to data site CoinMarketCap, the entire cryptocurrency market has recovered gradually over the last week from the epic correction on Dec. 22 last year, which saw the total cap plunge more than 30 percent from around $648 billion to as low as$422 billion.

Today's chart shows that the market is seeing a nearly $670 billion capitalization while ethereum also reaches its all-time-high today over$900, CoinMarketCap's data shows. Meanwhile, XRP, the native token of the remittance network firm Ripple, is still trading above the historic $2, holding onto its recent position as the second largest cryptocurrency by trading volume.

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