BTC’s rally in the past few days paused yesterday as the asset encountered strong resistance near $100,000 and fell back sharply.
As expected, the decline in altcoins was more obvious, with the prices of LINK, AVAX, ADA, SUI and other currencies all falling sharply.
Bitcoin stalls at $100,000
Last week, Bitcoin experienced a sharp correction after the latest FOMC meeting, with prices falling from $108,000 to $92,000 in a matter of days. The market rebounded on Friday and Saturday as bulls pushed prices close to $99,500.
However, Bitcoin was blocked at this level and failed to sustain the rally, and it pulled back sharply again to $92,000 at the beginning of this week. Since then, the bulls have once again taken action, triggering a significant rally that has pushed the price of Bitcoin to $99,200 and close to $100,000 on Christmas Eve.
However, the cryptocurrency market stalled once again and the subsequent sell-off caused the price of Bitcoin to fall sharply, and the price is currently fluctuating below $96,000.
Its market capitalization on CG has fallen below $1.9 trillion, while its dominance in other markets has risen to 54.6%.
Bitcoin price chart December 26, 2024.
Substitute bleeding
Alternative currencies have also seen some gains over the past few days, but red is currently dominating all charts. Ethereum has encountered resistance near $3,500 and after a 3.5% daily drop, the price fell below $3,400. XRP, DOGE, SOL, BNB, TRX, and TON have all seen similar declines.
More severe pullbacks occurred in currencies such as ADA, AVAX, LINK, SHIB, HBAR, XLM and DOT, with declines of up to 9%. AAVE plummeted by 10%, and ONDO and HYPE also suffered heavy losses.
The total market capitalization of all crypto assets has dropped by more than $100 billion and is now down to $3.46 trillion on CoinGecko.
Cryptocurrency market overview.
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