In the past 24 hours, Bitcoin's price has continued to rise, briefly breaking through $99,000, setting a new high for the past few weeks, but then retracing with a decline of about $1,000.
Meanwhile, several altcoins also performed well, especially ETH, which traded significantly above $3,500, while DOGE experienced double-digit gains, indicating an increase in market activity.
BTC target price is $99,000
Since the crash in mid-December, Bitcoin (BTC) has failed to recover most of its losses and has been hovering below $100,000. Notably, on December 30 (Monday), BTC fell to a monthly low of $91,300, with bears widely predicting it could fall below $90,000 again.
However, bulls stabilized the situation at a critical moment, preventing prices from dropping further. After a period of volatility, BTC finally rebounded and rose back to $96,000 on December 31. Although it later fell back to $93,000, this pullback did not continue, and it instead began to gradually recover with a stronger rebound.
With the arrival of the new year, Bitcoin broke through $97,000 again on January 2 and continued to rise in the following 24 hours, ultimately reaching the highest point of $99,000 since December 26. Although it failed to break this level, the current price has retreated to about $97,000.
After this round of recovery, Bitcoin's market cap has risen to $1.94 trillion, but its dominance in the altcoin market has once again been challenged, with its market share dropping to 53.3%.
Bitcoin Price Chart January 4, 2024.
SUI sees new ATH
In the past day, alternative currencies also performed well, achieving significant gains. ETH finally broke through the resistance at $3,500 after struggling for several weeks and is now well above that level after a daily increase of 4.5%. Meanwhile, SOL, XRP, ADA, AVAX, TRX, and TON also saw varying degrees of increase.
Additionally, LINK and SHIB have both risen by about 5-7%, while DOGE surged by 14%. Although it has slightly retraced from its intraday high, it is still close to $0.39.
Among large alternative assets, SUI has performed the best, surging 17% in the past day and reaching a historic high of over $5.
Since yesterday, the total market cap of the cryptocurrency market has increased by about $100 billion, currently standing at $3.64 trillion according to CoinGecko.
