After a few days of pullback and consolidation over the weekend, Bitcoin appears to be preparing to make another push towards the coveted $100,000 target.
Many altcoins also gained today, with #AVAX surging to nearly $50 and #xrp revisiting the $1.5 level.
Is BTC Targeting $100K Again?
BTC has been trading very positively this week, with the asset opening around $90,000 last Monday but quickly resuming its bull run, surging to a then-all-time high of $94,000 on Wednesday. After a minor pullback, BTC has once again taken the offensive, surpassing $95,000 on Thursday.
On Friday, Bitcoin continued to rise, approaching $100,000. In fact, on Friday night, Bitcoin was only $200 away from this level, but the bears managed to defend this level and did not let Bitcoin fall below it.
The cryptocurrency experienced some pullbacks over the weekend, falling to $98,000 on Saturday and below $96,000 on Sunday night. Nevertheless, it managed to rebound and is currently approaching $99,000 again. This makes speculation of $100,000 possible again today.
Currently, BTC’s market cap has risen to over $1.950 trillion on CG, but its dominance over altcoins has fallen again, this time to 55.3%.
Bitcoin/Price/Chart 25 November 2024.
AVAX's rapid rise
Altcoins also saw some notable price drops late Sunday, but most managed to reverse the trend. ETH rose 2.5% and is now trading above $3,450. SOL climbed above $250 after a 1.4% daily gain. DOGE, ADA, TON, SHIB, and SUI also saw small price increases.
Ripple is up 6% since yesterday, jumping above $1.5 again. LINK, DOT, NEAR, ICP, and BCH also saw significant growth in a day.
Avalanche’s native token is the best performing coin today, gaining more than 14%. As a result, AVAX is now trading close to $50.
The total cryptocurrency market capitalization has recovered most of its losses from Sunday and has reached $3.550 trillion on CG.
Cryptocurrency market overview.
