Bitcoin’s sub-$100,000 trading did not last long as the asset managed to bounce back above that level in the past 12 hours and even surged above $103,000 earlier today.
Altcoins have also recovered from Monday morning’s crash, with a number of altcoins such as XRP, DOGE, and ADA posting significant gains.
On Monday of last week, bitcoin experienced a very volatile price movement, as the asset fell from $106,000 to below $100,000 in the morning, but surged over nine thousand dollars in an hour to hit a new high of over $109,000.
After Trump’s inauguration, where he did not mention crypto in his speech, BTC fell again but remained at $100,000. It maintained a six-digit position through the weekend and even rose to $107,000 on Sunday.
However, Monday began with a similar episode of volatility as BTC fell again. This time, it fell below $100,000 and fell to a multi-week low of below $98,000, causing millions of dollars in liquidity.
However, bullish support resurfaced and helped the asset recover most of its losses. Earlier in the day, BTC surged to $103,000, but recently settled slightly at $102,000.
Bitcoin’s market cap has risen to over $2 trillion, while BTC’s dominance over altcoins is almost 56% on CG.
Altcoins fell more than BTC yesterday, but most posted more impressive recoveries today. XRP led the way with a 10% gain, pushing its value to $3.1. Dogecoin, Cardano, Chainlink, Stellar, Sui, and Shiba Inu also posted gains of up to 7%.
Ethereum is back near $3,200, SOL is nearing $240, while BNB is at $675. The biggest gains were recorded by JUP (21%), XDC (16%), HYPE (15%), and KCS (15%).
The total crypto market capitalization has recovered by $140 billion since yesterday and now stands at $3.640 trillion on CG.
