After several days of price corrections over the weekend in the market, Bitcoin seems poised to surge back towards its coveted $100,000 target.
Most altcoins also posted gains today, with AVAX surging nearly $50 and XRP returning to $1.50.
Last week was a very positive trading week for BTC. The asset started Monday at around $90,000 but quickly continued its upward surge and hit an all-time high of $94,000 on Wednesday. After a slight correction, it rebounded and managed to break above $95,000 on Thursday.
The rally continued on Friday as Bitcoin neared the $100,000 mark. Unfortunately, it was only $200 away from reaching it on Friday afternoon, but pressure from sellers managed to hold it there.
The weekend saw several price corrections, as the cryptocurrency fell to $98,000 on Saturday and below $96,000 on Sunday afternoon. However, it managed to bounce back and is now nearing $99,000. This has once again opened up speculation that Bitcoin could hit $100,000 today.
So far, BTC’s market capitalization has risen above $1.950 trillion on CG, but altcoin dominance has dropped to 55.3%.
Altcoins also saw some significant price declines on Sunday afternoon, but most have managed to resume their upward trend. ETH is up 2.5% and is now above $3,450. SOL is up more than $250 after a 1.4% daily gain. DOGE, ADA, TON, SHIB, and SUI also posted small gains.
Ripple is back above $1.50 after adding 6% since yesterday. LINK, DOT, NEAR, ICP, and BCH also posted significant gains in the day.
Avalanche was the star of the day with a surge of over 14%. As a result, AVAX is now close to $50.
The total crypto market capitalization has recovered most of Sunday's losses and is now up to $3.550 trillion on CG.
