After the recent enhanced volatility across the entire crypto market, bitcoin’s price has finally calmed and stands still at around $105,000.
Many altcoins have recovered some ground following yesterday’s declines, and the total market cap is close to $3.8 trillion.
BTC Calms at $105K
The primary cryptocurrency jumped past $100,000 at the end of the previous business week and went to a high of $105,000 on Friday. While the weekend was less eventful on the BTC front, despite the two Trump-related meme coins, the asset maintained its level and even surged to $106,000 on Monday morning.
Then came the volatile ride that pushed the asset to under $100,000. In minutes, it had recovered all losses and skyrocketed even further to just over $109,000 to register a new all-time high. All of these movements transpired in the span of just a few hours.
Once Trump’s inauguration began on Monday afternoon, BTC’s price started to tumble again and plunged to $100,000 once again as he failed to mention crypto even once. Nevertheless, the bulls intervened at this point and drove the cryptocurrency to $107,000 yesterday.
It has lost some ground since then and now trades a lot more calmly around $105,000. Its market capitalization has risen to $2.080 trillion on CG, and its dominance over the alts is still above 55%.
Alts in Recovery Mode
Most alternative coins have turned green today after yesterday’s retracements. Solana and Dogecoin have popped up as the top performers, with both gaining around 6%. As a result, SOL has risen to over $250, while DOGE, which exploded yesterday at one point, is now above $0.36.
ETH, XRP, BNB, and ADA have posted minor gains, while TRX, LINK, and AVAX have added around 3-4% of value.
Other notable price gainers since yesterday include HYPE and CRO, as the exchange behind the latter launched in the US.
The total crypto market cap has increased by over $100 billion on a daily scale and is close to $3.8 trillion on CG.
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