Over the weekend, Bitcoin remained relatively stable, hovering around the $105,000 mark. While the leading cryptocurrency showed little movement, several altcoins experienced notable gains, painting a mixed picture for the crypto market.
Bitcoin Price Stays Around $105,000
Bitcoin started the week with significant volatility. Early Monday, it plunged from $106,000 to below $100,000 before rallying to a new all-time high above $109,000. The market saw further turbulence during and after Donald Trump’s inaugural speech, which notably did not mention cryptocurrency.
Following a dip to $101,000, bullish momentum took over, preventing Bitcoin from dropping further into five-digit territory. The recovery was swift, as BTC climbed back to $107,000 mid-week. However, another pullback on Saturday brought the price down by $3,000, stabilizing at its current level just $1,000 higher. As of now, Bitcoin’s market cap has risen to $2.08 trillion, according to CoinGecko, with its dominance holding firm at 55.4% over the altcoin market.
AVAX Leads Altcoin Gains
Among the largest altcoins, many managed to recover some of their losses from the previous day. Ethereum saw a 1.3% daily increase, pushing its price above $3,300, while XRP similarly rose 1.3% to trade at $3.1. BNB, DOGE, and ADA also posted slight gains within a similar range. Solana and Chainlink outperformed with 3% increases, reaching $255 and $25, respectively.
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The standout performer, however, was Avalanche (AVAX), which surged by 6% to $37.5, making it the best-performing large-cap altcoin. Other notable gainers included XCN, which skyrocketed by 91%, OM with a 30% jump, TAO gaining 13%, and TRUMP climbing 10%.
Crypto Market Recovers Overnight
The broader cryptocurrency market also saw significant recovery. Total market capitalization increased by over $60 billion overnight, reaching $3.75 trillion, according to CoinGecko. This rebound underscores growing investor interest in specific altcoins while Bitcoin maintains its dominance.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
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