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Bitcoin’s price troubles worsened yesterday as the asset dumped to its lowest price position in over a month of $91,300 before it recovered some ground.
Most altcoins are also quite sluggish at the end of the year, with $ETH losing the $3,400 mark and LINK continuing its recent downfall.
$BTC Eyes $94K
The micro-scale at the end of the year is quite painful for $BTC. The cryptocurrency stood above $108,000 two weeks ago, adding $40,000 since Trump’s landslide victory in the US presidential elections. However, the Fed’s hawkish words for 2025 reversed the asset’s trajectory, and it started losing value fast.
It dumped to $92,000 that Friday and tried to recover some ground in the following week. It managed to jump toward $100,000 on a couple of occasions but was stopped at each attempt and pushed south hard.
This retracement culminated yesterday as the bears initiated a notable leg down that resulted in $BTC tapping a monthly low of $91,300 (on Bitstamp). As the fears of a potential breakdown beneath $90,000 went viral, the bulls managed to intervene and pushed the asset north of nearly $94,000 as of now.
Still, its market capitalization still struggles at $1.860 trillion, while its dominance over the alts has increased to 54.3% on CG.
$PEPE on Recovery Road
Most larger-cap alts are slightly in the red now as well. $ETH has slipped beneath $3,300, XRP struggles below $2.1, while DOGE, ADA, TRX, AVAX, and TON have lost around 1-2% value once again. Chainlink’s native token continues to lose value after another 3% drop in the past 24 hours. Similar declines are evident from SHIB, HBAR, and DOT.
CRO, TAO, and AAVE have declined even harder, while $PEPE has defied the market sentiment with a 6% surge to $0.00002.
The total crypto market cap continues to bleed and is close to breaking below $3.4 trillion.
