Bitcoin’s price endured some tough times yesterday as it fell to a monthly low of $91,300. Thankfully, it managed to claw back some of its losses.
As the year wraps up, many altcoins have been struggling. Ethereum dipped below $3,400, while Chainlink showed continuous decline.
BTC Eyes $94K
The final stretch of the year has become quite costly for Bitcoin. Just two weeks ago, it was riding high over $108,000, boosted by Trump’s significant victory in the U.S. presidential elections. However, after some hawkish remarks from the Fed regarding 2025, the price took a nosedive.
Bitcoin plummeted to $92,000 that Friday but tried to regain momentum in the week that followed. It approached $100,000 multiple times, only to be thwarted each time, sending it spiraling downward.
Yesterday’s slide pushed Bitcoin to its worst monthly low on Bitstamp, sitting at $91,300. As speculation about a potential drop below $90,000 spread, buyers stepped in and managed to lift the price to almost $94,000 as of now.
While Bitcoin’s market cap hovers around $1.860 trillion, its dominance has increased to 54.3%, indicating it still holds substantial sway over the altcoin market.
PEPE on Recovery Road
In the wider market, many large-cap coins are seeing red. Ethereum is struggling below $3,300, XRP is finding it hard to stay above $2.1, and Dogecoin, ADA, TRON, Avalanche, and TON have all lost about 1-2% in value. Chainlink’s token lost another 3% in the last 24 hours, with SHIB, HBAR, and DOT following suit.
However, while CRO, TAO, and AAVE are experiencing sharper declines, the PEPE token is making headlines for its resilience, soaring 6% to $0.00002 in these turbulent times!
Sadly, the total crypto market cap faces pressure and nears the brink of falling below $3.4 trillion. Keep an eye on these developments, as they prove crucial in this volatile atmosphere.
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