After the recent increased volatility in the entire cryptocurrency market, the price of Bitcoin has finally calmed down and remains at around $105,000.
Many altcoins have regained some ground after yesterday’s declines, and the total market cap is approaching $3.8 trillion.
BTC stabilizes at $105,000
The underlying cryptocurrency jumped above $100,000 at the end of the previous business week and rose to a high of $105,000 on Friday. While the weekend was less eventful on the Bitcoin front, despite the two Trump-related memes, the asset maintained its level and rose to $106,000 on Monday morning.
Then came the roller coaster ride that pushed the asset below $100,000. Within minutes, it recovered all its losses and rose to just over $109,000 to set a new all-time high. All these movements happened within a few hours.
Once Trump’s inauguration began on Monday afternoon, the price of Bitcoin started to decline again and dropped to $100,000 again as he failed to mention cryptocurrencies even once. However, the bulls intervened at this point and drove the cryptocurrency to $107,000 yesterday.
It has lost some ground since then and is now trading more quietly at the $105,000 level. Its market capitalization has risen to $2.080 trillion on CG, and its dominance in altcoins remains above 55%.
Alternatives in recovery mode
Most altcoins turned green today after yesterday’s bounces. Solana and Dogecoin emerged as the best performing coins, both gaining around 6%. As a result, SOL rose to over $250, while DOGE, which exploded yesterday at one point, is now above $0.36.
ETH, XRP, BNB, and ADA recorded slight gains, while TRX, LINK, and AVAX added about 3-4% of value.
Other notable price gainers since yesterday include HYPE and CRO, with the exchange behind the latter launching in the US.
The total cryptocurrency market capitalization has risen by more than $100 billion on a daily scale and is approaching $3.8 trillion on CG.
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