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Bitcoin’s gradual price increases led the asset to a multi-month peak of over $98,000 yesterday, but it was stopped before even having the chance to challenge the $100,000 mark.
Most altcoins have followed suit today with minor losses, led by 3% declines from $AVAX and $PEPE.
$BTC Stopped at $98K
It was the beginning of the previous trading week when the primary cryptocurrency skyrocketed from $84,000 to over $90,000 within a matter of 36 hours or so. The bulls kept pressing the asset up and this culminated with a surge to a two-month high of $96,000 on April 25.
$BTC finally faced some resistance there and was not allowed to go further. In the following week or so, consolidation reigned, and the cryptocurrency remained sluggish within a tight range between $93,000 and $95,000. The lower boundary was tested on a couple of occasions but held strong.
The subsequent bounce-off on Thursday resulted in a price breakout from the upper boundary. The surge drove the cryptocurrency to a new multi-month high of $98,000.
The bears stepped up once again, and $BTC couldn’t continue toward a six-digit territory. Just the opposite, it has lost almost two grand since then and now sits inches above $96,000.
Its market capitalization is well above $1.910 trillion on CG, and its dominance over the alts tapped a new four-year high of almost 62% on the same data aggregator. On others, it has risen to 64%, which could actually signal good news for alts soon.
Alts Fall Back
Most altcoins have mimicked $BTC’s performance over the past day, with minor losses evident from the likes of ETH, XRP, DOGE, SOL, ADA, SUI, LINK, and XLM. $AVAX and $PEPE have dropped the most – by around 3% each.
In contrast, TRUMP, KAS, and TAO have jumped by somewhere between 3% and 4%. VIRTUAL has taken the main stage once again, gaining over 6% and trading above $1.7.
The total crypto market cap has shed around $30 billion since yesterday’s peak, but it’s still above $3.1 trillion on CG.
