For about three weeks, Bitcoin‘s price stayed under $100,000, but it surged into the six-figure range the day before last and touched a high for the year of more than $102,500.
The altcoins are also in the green today, with DOGE nearing $0.4 and XRP at $2.45.
BTC Jumped Past $102K
Over the past two Mondays, there’s been a significant contrast in Bitcoin’s price fluctuations. On December 30, the cryptocurrency experienced a steep fall from $94,000 to an intra-month low of $91,300. Yet, it regained substantial value since then, particularly as we moved into the new year.
On several instances since January 4, it struggled to surpass $100,000, eventually falling short by a few thousand dollars and moving downward. But things turned around yesterday as the bulls seized control of the market, sparking a strong surge that allowed BTC to break above $100,000 for the first time since December 19.
During early Tuesday morning in Asia, the value of the asset continued to rise and reached a 18-day high of $102,700 (on Bitstamp), fueled by substantial Bitcoin ETF investments. Yet, it was unable to sustain this momentum and has since dropped approximately $1,000.
Despite today’s increase not being significant, Bitcoin has climbed over 2.5%, reaching a market capitalization of more than $2 trillion yet again. Additionally, its control over alternative cryptocurrencies has grown to 53.8% on CoinMarketCap.
ADA Rises 5%
Over the last 24 hours, many digital currencies other than Bitcoin have experienced growth. Specifically, XRP, Dogecoin (DOGE), and Tron (TRX) have seen comparable percentage increases to Bitcoin. At the moment, their values are approximately $2.45, $0.395, and $0.27, respectively.
Cardano‘s built-in currency experienced a 5% increase, currently hovering near the $1.13 mark, driven by speculations regarding potential price surges in the future. On the other hand, HBAR saw an almost 7% boost in value and is now trading above $0.3.
In simple terms, the total value of all cryptocurrencies combined increased by around $100 billion within a single day. This figure now stands at approximately $3.75 trillion, having fallen below $3.4 trillion just a week ago.
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2025-01-07 13:02