After several days of correction and consolidation, Bitcoin finally launched an offensive on Christmas Eve, briefly soaring above $99,000.
Altcoins are also showing an upward trend, with significant price increases for coins such as SOL, DOGE, AVAX, and TON.
BTC returns to $98,000
Since last Wednesday's final FOMC meeting of the year by the Federal Reserve, Bitcoin has experienced a highly turbulent and painful trading week. Despite the Fed's 25 basis point rate cut, the BTC price continued to decline, falling $16,000 in a matter of days, from over $108,000 on Tuesday to $92,000 on Friday.
Over the weekend, Bitcoin's price rebounded, even briefly breaking $99,000, but this was only short-lived. Bitcoin's price almost immediately began to retract and fell back to $92,000 on Monday.
It successfully maintained this level and rebounded to around $94,000 on Tuesday, followed by a Santa Claus rally that pushed it above $99,000. In just a few hours, Bitcoin's price jumped from $94,000 to slightly above $99,000. Although Bitcoin has since lost some appeal, it remains above $98,000 after a daily increase of 4%.
Its market capitalization on CG has surged to $1.94 trillion, and its dominance over altcoins has returned to above 54%.
AVAX rises by 5%
Today, most altcoins have also seen slight increases. Ethereum is close to $3,500 after a 2% rise, while XRP has risen by $2.3, with similar gains. BNB, ADA, TRX, and LINK have all seen similar increases.
Solana, Dogecoin, and Toncoin increased by about 2-4%, while AVAX's value rose by nearly 5%, currently priced above $40.
The top 100 altcoins with the largest daily gains are MOVE (26%), BGB (16%), PENGU (13%), JASMY (13%), and VET (10%).
Since yesterday, the total market capitalization of all crypto assets has increased by over $100 billion, nearing $3.6 trillion on CG.
