Bitcoin started the new year with a challenging move as the price fell close to $93,000 again. However, the asset managed to rally several thousand dollars higher.
After hitting an all-time high above $108,000 on December 17, Bitcoin suffered a major correction, falling $16,000 in just a few days by December 20. Over the next week, BTC attempted to rally and challenge the $100,000 level several times but failed.
Subsequent rejections pushed the price to a low of $91,300 on December 30, its lowest level in over a month. At this point, buyers finally stepped in and pushed the price higher towards $95,000 before BTC slipped back below $92,000.
Volatility continued at the end of the year as BTC surged to $96,000 before falling back to $93,000. In the last 24 hours, positive sentiment has returned to Bitcoin, which is now at $96,740. Bitcoin’s market cap has risen to $1.9 trillion, but its dominance over altcoins has shrunk to 53.8% as many altcoins have posted impressive gains.
Most altcoins suffered losses yesterday, but today the landscape has completely changed. Ethereum, which had previously dipped below $3,400, is now back at that level with a 2.5% gain on the day. Similar gains were seen on BNB, TRX, and TON, while SOL, DOGE, ADA, AVAX, LINK, and SHIB all recorded gains of up to 11%.
XRP stole the show among the top 10 altcoins with a surge to $2.38 (a 12% gain on the day). XLM is the best-cap altcoin, up 22%, now trading above $0.42.
The total market cap of all crypto assets added over $130 billion overnight, now reaching $3.53 trillion.
