Double-Digit Gains From These Alts as Bitcoin Price Eyes $96K (Market Watch)

Bitcoin’s start of the new year was painful as the asset slumped toward $93,000 once again, but it has reacted well and now sits a few grand higher.

Numerous altcoins have produced impressive gains over the past 24 hours, with ETH surging past $3,400 and XRP gaining 12% of value.

BTC Eyes $96K

Following its latest all-time high of over $108,000 on December 17, BTC went into a full correction mode, dumping by $16,000 within just days by December 20. It bounced off in the next week or so and even challenged $100,000 on a few occasions, but to no avail.

The subsequent rejection from the second attempt pushed it south hard to $91,300 on December 30, which became its lowest price tag in over a month.

The bulls finally stepped up at this point and propelled a run toward $95,000, where they were stopped, and BTC slipped beneath $92,000. More volatility ensued at the end of the calendar year, with a surge to $96,000 and another drop to $93,000.

The past 24 hours have been more positive for the largest digital asset, as it now stands close to $96,000 once again. Its market capitalization has risen to $1.9 trillion on CG, while its dominance over the alts has taken a hit to 53.8%, as most have registered impressive gains.

XRP, XLM on the Rise

Most altcoins dumped hard yesterday, but the landscape is entirely different today. Ethereum slipped below $3,400 but has reclaimed that level after a 2.5% daily surge. Similar increases are evident from BNB, TRX, and TON, while SOL, DOGE, ADA, AVAX, LINK, and SHIB have unlocked gains of up to 11%.

XRP has stolen the show from the top 10 alts, with a surge to $2.38 (12% on a daily scale). XLM is the top performer from the larger-cap alts, gaining 22% and trading above $0.42.

The cumulative market cap of all crypto assets has added over $130 billion overnight and is up to $3.53 trillion on CG.