After a significant increase in volatility across the crypto market, the price of bitcoin is now calm and stable around $105,000.
Most altcoins have recovered from yesterday’s decline, bringing the total crypto market cap to nearly $3.8 trillion.
The major cryptocurrency surged past $100,000 over the weekend and hit a high of $105,000 on Friday. Despite a relatively quiet weekend, BTC managed to hold onto that level and surged to $106,000 on Monday morning.
However, volatility took its toll, causing BTC to fall below $100,000. Within minutes, it recovered and surged to an all-time high of over $109,000. All of this movement occurred in just a few hours.
During Donald Trump’s inauguration ceremony on Monday evening, BTC’s price fell back to $100,000 after he made no mention of crypto. However, buying support lifted the price back to $107,000 yesterday.
Currently, BTC is stable at $105,000 with a market cap of $2.080 trillion, while its dominance over altcoins remains above 55%.
Most altcoins are showing gains after yesterday’s decline. Solana (SOL) and Dogecoin (DOGE) are the best performers, each up around 6%. SOL is now above $250, while DOGE, which surged significantly yesterday, is now above $0.36.
ETH, XRP, BNB, and ADA are seeing small gains, while TRX, LINK, and AVAX are adding around 3-4% in value.
Other notable gains include HYPE and CRO tokens, fueled by the launch of CRO exchanges in the US.
The total crypto market cap has increased by over $100 billion in a day, approaching $3.8 trillion.
