Bitcoin’s price went through another full-on rollercoaster yesterday but has managed to recover most of the losses and now sits close to $98,000.
The altcoins are still mostly in the red, aside from XRP, SOL, and TON, from the larger caps, which have posted impressive gains.
BTC Targets $98K
BTC’s inability to decisively conquer the $100,000 level during the weekend resulted in a few consecutive leg downs that harmed the asset’s price movements. It all started on Monday when BTC went to a daily high of $100,400 but just hours later found itself dumping to under $94,400.
After leaving billions of dollars in liquidations, the cryptocurrency started to recover on Tuesday and spiked to $98,400. However, the same scenario repeated once again as BTC slumped hard to the same support level of $94,400.
Since then, the asset has been recovering, surging to $94,400 once again hours ago. Nevertheless, it has been unable to continue its upswing, and now the community wonders whether another rejection will follow.
For now, though, bitcoin’s price means that its market cap has neared $1.940 trillion on CG, while its dominance over the alternative coins stands tall above 53%.
Bitcoin/Price/Chart 11.12.2024. Source: TradingViewXPR in Recovery Mode
Ripple’s cross-border token was among the poorest performers during the correction in the past few days. However, it has bounced off from under $2 and now trades above $2.3 amid positive developments around the company’s upcoming stablecoin.
Solana, Toncoin, and Shiba Inu are the other notable gainers from the larger-cap alts. In contrast, DOGE, ETH, BNB, AVAX, and TRX are in the red. PEPE has slumped ever harder, dropping by 7% from its latest all-time high.
Bitget’s native token is today’s top performer, having surged by over 22% in the past 24 hours.
Overall, the total crypto market cap has recovered over $150 billion since its low yesterday and now sits at $3.650 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCryptoBinance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
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Cryptocurrency charts by TradingView.
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