It has been nothing short of a spectacular start to the new trading week as bitcoin’s price dumped below $100,000 only to skyrocket from there to a new all-time high above $109,000.
The altcoins are also in the green now on a daily scale, even though they plunged during the Monday morning Asian trading session.
BTC’s New Peak
The past seven days showcased what bitcoin and the crypto markets are capable of. Recall that the largest digital asset plunged beneath $90,000 for the first time since November last Monday after a massive daily drop of more than seven grand.
However, it reacted well to this crash and started to recover some value almost immediately. It kept climbing by the end of the trading week and saw its price cruise above $100,000 after the more favorable CPI data that came out on Wednesday.
Although all eyes were on Trump’s meme coin during the weekend, BTC maintained its position and even spiked to $106,000 on Sunday. That’s when real volatility transpired, as the cryptocurrency plummeted once again by several grand amounts to under $100,000.
As the market was preparing for another price slip ahead of Trump’s inauguration today, bitcoin reversed its trajectory and skyrocketed to over $109,000 to mark a new all-time high.
As of now, it stands at just over $108,000. Its market cap has soared to $2.140 trillion, while its dominance over the alts is at 55.4%.
LINK on the Move
Most altcoins went through similar volatility on Monday morning but have turned green on a daily scale. Ethereum has tapped $3,400 after a 5.5% surge since yesterday. ADA has jumped to $1.1 after a similar increase. XRP, BNB, DOGE, XLM, TRX, and AVAX are also in the green.
LINK has stolen the show today with a massive 15% surge. As a result, Chainlink’s token now sits above $26.
The two newest and most controversial meme coins – TRUMP and MELANIA – faced massive price volatility and is expected to continue as the day progresses.
The total crypto market cap has added over $100 billion since yesterday and is above $3.86 trillion on CG.
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Cryptocurrency charts by TradingView.
