Bitcoin (BTC) Pushes Toward $100K Again, Ripple (XRP) Goes Beyond $1.5 (Market Watch)

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As a seasoned analyst with over a decade of experience in the cryptocurrency market, I’ve seen more than a few bull runs and bear markets. This recent surge in Bitcoin’s price has been nothing short of exhilarating, especially as we approach the elusive $100,000 mark. The weekend retracements were expected, but the resilience shown by BTC today is promising.

After several days of pullbacks and stabilization over the weekend, it appears that Bitcoin is gearing up for another attempt at hitting the sought-after $100,000 milestone.

On this day, numerous alternative cryptocurrencies are displaying a surge in value. For instance, Avalanche (AVAX) has soared close to $50, while Ripple‘s XRP has regained the $1.5 mark.

Is BTC Aiming at $100K Again?

Last week saw Bitcoin experiencing an extremely favorable trading period. The cryptocurrency began Monday at approximately $90,000, but soon rekindled its bullish surge, reaching a new peak record price of $94,000 midweek on Wednesday. Following a brief dip, it regrouped and broke the $95,000 mark on Thursday.

On Friday, bitcoin nearly reached the $100,000 mark, falling short by only $200 in the evening. However, the bears successfully held off any further advance at that price level.

During the weekend, there were some ups and downs in the cryptocurrency market. The value dropped to around $98,000 on Saturday, and dipped below $96,000 on Sunday evening. However, it has since recovered and is approaching $99,000 again. This recent development has revived discussions about whether the price might reach $100,000 today.

Currently, Bitcoin’s market capitalization surpassed $1.950 trillion on CoinGecko, however, its superiority over the alternative cryptocurrencies has decreased once more, now standing at 55.3%.

AVAX Shoots Up

On Sunday evening, altcoins experienced some significant price drops, but most have since recovered from the downturn. For instance, ETH has risen by 2.5% and is now trading above $3,450. Similarly, SOL has surged past $250 following a 1.4% increase. Additionally, DOGE, ADA, TON, SHIB, and SUI have also registered minor price increases.

Ripple soared past the $1.5 mark yet again, climbing an impressive 6% from the previous day. Similarly, LINK, DOT, NEAR, ICP, and BCH experienced notable growth as well, increasing significantly within a 24-hour period.

Today, the native token of Avalanche has emerged as the leading gainer, climbing more than 14%. This impressive surge has positioned AVAX near the $50 mark.

The overall value of all cryptocurrencies has largely recouped its losses from Sunday, currently standing at approximately $3.550 trillion, according to CoinMarketCap.

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2024-11-25 12:46