On both Friday and over the weekend, Bitcoin continued to climb, reaching an approximately $100,000 peak that it hadn’t seen for several weeks. However, this upward momentum was halted, causing a drop of nearly $1,000 in its value.
On a day-to-day basis, many alternative cryptocurrencies (altcoins) exhibit a relatively slow pace. Ethereum (ETH) continues to maintain its value above $3,600, while Solana (SOL) holds steady above $210.
BTC Came Close to $100K
Last week’s opening for Bitcoin wasn’t at all optimistic; the cryptocurrency plunged to a monthly minimum of $91,300. The turbulent journey on its price roller coaster persisted over the next few days, with significant ups and downs totaling thousands of dollars.
On New Year’s Eve, it surged above $96,000, only to be pulled down to around $93,000 shortly after. However, the bullish sentiment eventually prevailed, pushing the price up to over $97,000 by January 2. After a minor dip of approximately $1,000, Bitcoin experienced another surge on Friday, reaching $99,000, as anticipation for the potential ETF approval grew.
Despite a drop in trading activity over the weekend, Bitcoin persisted in its upward trend, holding roughly the same position. The market opened on Monday with a notable increase, reaching a two-week high of $99,800 on Bitstamp, at which point it encountered increased resistance.
Currently, Bitcoin is hovering near $99,000 following a slight pullback. Its market capitalization exceeds $1.960 trillion, and it holds about 53.4% of the total market share over altcoins, according to CoinGecko.
AVAX on the Rise
In simpler terms, the majority of large alternative cryptocurrencies (altcoins) haven’t shown significant price swings up or down lately. Ethereum (ETH), Binance Coin (BNB), Solana (SUI), and Chainlink (LINK) have experienced slight increases in value, while Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) have seen minimal price drops.
In simpler terms, Avax (AVAX) stands out as the top performer among larger alternative cryptocurrencies. Currently, its value is approximately $44, having increased nearly 5%. Additionally, RNDR, FET, and FIL are also showing significant growth, with gains ranging from 6% to 7%.
As a researcher, I’m excited to report that the cumulative value of the cryptocurrency market has experienced a significant surge, adding approximately $30 billion in just a single day. Currently, this impressive figure stands at an astounding $3.680 trillion, as per CoinMarketCap.
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2025-01-06 13:14