Bitcoin faced some extreme volatility yesterday amid the latest developments in South Korea, but it managed to recover its losses and is back to roughly $97,000.
The show, though, belongs to a few altcoins once again, such as TRX and BNB, both of which have soared to new all-time highs.
BTC Back to $97K
After last week’s bounce-off from $91,000, the primary cryptocurrency went on the offensive and shot above $98,000 on Friday. However, the bears came out of the woods again at that point and didn’t allow another attempt at cracking into six-digit price territory.
BTC slipped during the weekend and stood within a range between $96,000 and $97,000. Monday began with a brief surge past $98,000, which was met with tons of resistance that drove bitcoin south to under $95,000. Another volatile wave hit the market with a surge to $97,500 and a subsequent rejection to $94,500.
A similar scenario repeated yesterday amid the brief martial law in South Korea, and BTC dumped to $93,500 this time, with warnings about an even more severe correction.
However, the cryptocurrency headed in the opposite direction and now sits close to $97,000 after recovering over three grand since yesterday’s low.
Its market cap has reclaimed the $1.9 trillion line, but its dominance over the alts has dumped again to 51.3% on CG.
Bitcoin/Price/Chart 4.12.2024. Source: TradingView TRX, BNB at New Peaks
As reported earlier, TRX emerged as today’s top performer as it skyrocketed by almost triple digits at one point and shot above $0.4 to mark a fresh all-time high. Binance Coin is another larger-cap asset that charted a new peak of almost $800.
Other notable gainers from the larger-cap alts include AVAX, TON, DOT, BCH, ETC, and FIL. Ethereum has gained more than 3% and sits above $3,700.
The total crypto market cap has added another $60 billion since yesterday and sits at a peak of its own at over $3.730 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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