Bitcoin’s price has surged to an impressive $99,000, marking a significant high over the weekend. While the excitement around this milestone continues, a slight pullback of nearly $1,000 occurred shortly thereafter. Many altcoins struggled to keep up, with Ethereum (ETH) holding strong above $3,600 and Solana (SOL) remaining above $210.
Starting the week on a shaky note, Bitcoin initially dipped to a monthly low of $91,300. However, this downturn was just a precursor to a dramatic rebound. After flirting with $96,000 on New Year’s Eve, Bitcoin quickly plunged below $93,000. The determined bulls then rallied, lifting the price over $97,000 by January 2. Following a brief dip, BTC found its way back up to $99,000 on Friday, driven by a surge in ETF inflows.
As the weekend rolled on, trading volumes dipped, yet Bitcoin managed to maintain its momentum, comfortably hovering around the $99,000 mark. Monday brought a slight resurgence, with Bitcoin reaching a peak of $99,800 (according to Bitstamp) before encountering some resistance.
As of now, Bitcoin’s market cap exceeds $1.960 trillion, with a commanding dominance of 53.4% over alternative cryptocurrencies as recorded by CoinGecko.
In contrast to Bitcoin’s performance, many larger-cap altcoins have seen minimal movement. While Ethereum, BNB, SUI, and LINK experienced slight gains, others like Ripple (XRP), SOL, Dogecoin (DOGE), and Cardano (ADA) faced negligible losses. Among these, Avalanche (AVAX) stood out with a notable increase of almost 5%, bringing it to roughly $44. Other significant gainers included Render Token (RNDR), Fetch.ai (FET), and Filecoin (FIL), each climbing by about 6-7%.
The total cryptocurrency market cap has grown by approximately $30 billion overnight, now sitting around $3.680 trillion.
This evolving market landscape continues to captivate investors and enthusiasts alike, keeping everyone on the lookout for the next big move. If you want to stay updated with daily price actions and market shifts, you can subscribe to market recaps tailored just for you!
Please consider the information shared here carefully and conduct your own research before diving into any investment decisions.
