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Bitcoin’s price continues to flirt with the coveted $100,000 mark but has lost some momentum since yesterday and now sits below it.
The altcoins registered impressive gains on Saturday evening, including a new multi-year peak for DOGE, but have retraced as well.
$BTC Beneath $100K
The primary cryptocurrency’s impressive surge following Trump’s landslide victory in the US elections pushed the asset from under $70,000 to almost $100,000 within a few weeks. However, it couldn’t penetrate into six-digit territory for a while as the bears managed to defend it.
This finally transpired last Thursday when $BTC went into a price discovery mode above $100,000 and tapped a fresh all-time high of almost $104,000. What followed was a sudden and violent rejection that drove it south by over ten grand in hours to $92,000 on most exchanges.
After it flushed out a large number of leveraged positions, $BTC went on the offensive once again and jumped to $102,000 on Friday evening. However, it has been unable to sustain that level and has lost a few grand since then. It even slipped beneath $100,000 earlier today, where it currently stands.
Its market cap is just over $1.960 trillion on CG, and its dominance over the alts has calmed at 51.4%.
$PEPE’s New ATH
With the word altseason going viral on X, many alternative coins did well in the past 24 hours. $PEPE, for example, skyrocketed by 20% at one point and painted a fresh all-time high of its own at over $0.000026 before correcting slightly.
Dogecoin also jumped high and neared $0.5 for the first time in three and a half years. SHIB is well in the green today amid some dispute about whether it could lose its position to $PEPE by the end of the year.
XRP was heading south for a few days straight but has bounced back with a 4.5% surge to trade above $2.5 now. The rest of the larger-cap alts are much less volatile.
The total crypto market cap has retraced by around $40 billion since yesterday and is down to $3.820 trillion on CG.
