Bitcoin prices remained virtually unchanged over the past day, with market volatility limited and trading volumes continuing to shrink over the weekend.
Meanwhile, altcoins are gradually recovering from Saturday’s correction, with Ethereum (ETH) having surpassed $3,400 and Dogecoin (DOGE) heading towards $0.33.
BTC price stagnates at $95,000
Last week’s correction almost wiped out most of Bitcoin’s gains in December, with the asset plummeting to $92,000 on December 21. It then quickly rebounded and attempted to break through $100,000 twice on December 22 and 26, but both attempts were unsuccessful.
Each surge was met with strong selling pressure, causing the price of Bitcoin to fall sharply, by tens of thousands of dollars. The last similar fluctuation occurred at the end of the work week, when BTC fell to as low as $93,000.
Currently, Bitcoin has held the $93,000 support and rebounded to $94,000 yesterday, and has now risen to $95,000. This trend is expected given the recent continued sluggish trading volume. If whales continue to buy actively, this may be a potential positive for Bitcoin and other crypto assets.
However, BTC’s market cap is still well below $1.9 trillion on CG, and its dominance over altcoins has dropped to 54%.
Bitcoin price chart December 29, 2024.
SOL, SUI recovery
Most altcoins experienced a sharp drop yesterday, but the market has seen a slight recovery in the past 24 hours. Ethereum (ETH) rebounded above $3,400, XRP approached $2.2, while Binance Coin (BNB) bucked the trend and rose 2.5% to $718.
Dogecoin (DOGE) rose by more than 3% to nearly $0.33, while Solana (SOL) and SUI recorded increases of 5%-6%. The current trading price of SOL has exceeded $195, and SUI has stabilized above $4.25.
In addition, currencies such as HBAR, DOT, AAVE, APT, ICP and PEPE also performed strongly, with significant increases.
Overall, the total cryptocurrency market capitalization has recovered about $50 billion since yesterday and is currently approaching $3.5 trillion on Coingecko (CG).
Cryptocurrency market overview.
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