The price of Bitcoin continues to hover around the coveted $100,000 mark, but it has lost some momentum since yesterday and is now below it.
Altcoins made impressive gains on Saturday night, including DOGE hitting a new high in years, but also pulled back.
BTC below $100K
The impressive surge of the first-generation cryptocurrency following Trump's overwhelming victory in the U.S. election saw the asset soar from under $70,000 to nearly $100,000 in just a few weeks. However, it temporarily failed to penetrate the six-figure territory as shorts managed to defend it.
This finally happened last Thursday when BTC entered a price discovery mode above $100,000, setting a new all-time high of nearly $104,000. This was followed by a sudden and violent rejection, causing it to drop over $10 in a few hours, reaching $92,000 on most exchanges.
After washing away a large number of leveraged positions, BTC launched another offensive, jumping to $102,000 on Friday evening. However, it has been unable to maintain this level and has already lost a few since then. Earlier today, it even fell below $100,000, which is its current level.
Its market cap on CG is slightly above $1.96 trillion, and its dominance over alternative products has stabilized at 51.4%.
PEPE's new ATH
With the term altseason becoming popular on X, many alternative tokens have performed well in the past 24 hours. For example, PEPE surged 20% at one point and set a new all-time high of over $0.000026 before a slight correction.
Dogecoin also jumped high, nearing $0.5 for the first time in three and a half years. SHIB is in the green today as there is some controversy over whether it will lose its position to PEPE before the end of this year.
XRP has seen consecutive days of decline but has rebounded, rising 4.5% and currently trading above $2.5. The volatility of alternative stocks among the remaining large-cap stocks is much lower.
The total cryptocurrency market cap has fallen by about $40 billion since yesterday, with the CG market cap dropping to $3.82 trillion.
