As a seasoned crypto investor with battle scars from numerous market rollercoasters, I must admit that yesterday was another thrilling ride. Bitcoin’s dance between $93,500 and $97,000 is a familiar tune, but the extreme volatility always manages to keep me on my toes. The latest developments in South Korea added an unexpected twist to the mix, making it feel like I was navigating through a minefield.
Yesterday, Bitcoin experienced significant fluctuations due to recent events in South Korea, yet it bounced back from its losses and currently hovers around $97,000.
Once more, certain alternative cryptocurrencies have taken center stage in the show, with TRX and BNB reaching unprecedented peak values.
BTC Back to $97K
Following its dip from $91,000 last week, the main cryptocurrency launched an attack and surged above $98,000 on Friday. Yet, the bears emerged once more at that point, preventing any further attempts to break through into seven-figure pricing.
Over the weekend, Bitcoin experienced a dip, holding steady around the $96,000 to $97,000 mark. On Monday, there was an initial spike above $98,000, but this encounter with strong resistance caused Bitcoin to drop below $95,000. The market then saw another burst of volatility, reaching $97,500 before being pushed back down to $94,500.
In simpler terms, a situation analogous to yesterday’s occurred during South Korea’s short-term martial law, causing Bitcoin to drop to approximately $93,500. There are also concerns that the price could fall even further due to a potential harsher correction.
Contrarily, the value of the cryptocurrency moved in a different trajectory, currently hovering around $97,000, having gained more than $3,000 since it hit its lowest point yesterday.
The market value of this asset has once more exceeded $1.9 trillion, yet its control over alternative assets has decreased slightly to approximately 51.3% according to CoinMarketCap.
TRX, BNB at New Peaks
In an earlier update, TRX was identified as today’s leading gainer, soaring to nearly triple-digit percentages at one point and surpassing $0.4 for the first time ever, setting a new record high. Similarly, Binance Coin, another significant digital asset, reached almost $800, establishing a new maximum price.
Among the prominent winners in the large-alt category are Avalanche (AVAX), Telegram Open Network (TON), Polkadot (DOT), Bitcoin Cash (BCH), Ethereum Classic (ETC), and Filecoin (FIL). Moreover, Ethereum has registered a growth of over 3% and currently hovers above $3,700.
The total crypto market cap has added another $60 billion since yesterday and sits at a peak of its own at over $3.730 trillion on CG.
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2024-12-04 13:32