As a seasoned cryptocurrency researcher with years of experience tracking market trends and analyzing price movements, I have witnessed the rollercoaster ride that is the digital asset world. The recent surge in Bitcoin‘s price to a multi-week peak of $99,000 has been an exhilarating development, especially after the mid-December crash that left many investors shaken.
I remember the struggle BTC faced in recovering from those losses and remaining below $100,000 for weeks. It’s fascinating to see how the bulls finally stepped up and managed to prevent a drop below $90,000, only to be met with another rejection at $96,000 on New Year’s Eve.
They say hindsight is 20/20, but in crypto, it’s more like “FOMO (Fear Of Missing Out) vision.
In the last day, Bitcoin’s rally persisted, reaching a high not seen for several weeks at approximately $99,000. However, this upward trend was halted and a slight decline followed, with Bitcoin dipping around $1,000.
In the same period, several alternative cryptocurrencies have experienced significant increases. For instance, Ethereum (ETH) is currently trading above $3,500, and Dogecoin (DOGE) has surged more than 10%.
BTC Eyed $99K
Since the mid-December drop, Bitcoin has struggled to regain its losses and remains significantly below the $100,000 mark. In fact, it hit a monthly low of $91,300 on December 30th, and bears are expecting another fall below $90,000.
Eventually, the bulls took charge, preventing such a decline. Despite further difficulties, Bitcoin eventually surged upwards, reaching $96,000 on December 31. However, it faced another rejection at this level, causing it to drop to $93,000. But this time, it responded more positively and began regaining ground in a stronger fashion.
Following the New Year’s celebration, Bitcoin soared above $97,000 on January 2nd, then continued to rise in the last 24 hours, reaching its peak since December 26th at approximately $99,000. However, it could not sustain this level and has now retreated back to around $97,000 as of current market conditions.
The market value of this entity has climbed up to an impressive $1.940 trillion following its recent rebound. However, its control over alternative cryptocurrencies has decreased slightly, now standing at approximately 53.3% according to CoinGecko’s data.
SUI Sees New ATH
Over the last 24 hours, various altcoins have seen significant increases. Ethereum, which had been lingering below $3,500 for a while, has climbed well above that point following a 4.5% daily rise. Similarly, coins like Solana, Ripple, Cardano, Avalanche, Tron, and Ton are also experiencing growth.
In simpler terms, the prices of LINK and SHIB have increased by about 5-7%. On the other hand, DOGE experienced a significant surge of approximately 14%, reaching nearly $0.39. However, it slightly pulled back from its highest point in a single day.
As an analyst, I find myself noting that SUI has been the standout performer among large-cap alternatives. In just the last day, this asset experienced a staggering surge of approximately 17%, reaching unprecedented heights with a new all-time high exceeding $5.
The overall value of the cryptocurrency market has increased approximately $100 billion since yesterday, currently standing at a staggering $3.640 trillion according to CoinMarketCap.
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2025-01-04 12:15