Many altcoins have posted double-digit price gains over the past 24 hours.
Bitcoin experienced some enhanced volatility yesterday when it was rejected at $97,500 and pushed south hard by three grand in hours before it settled at just over $95,000.
In contrast, numerous altcoins have outperformed, charting mindblowing surges, such as ADA, AVAX, TRX, LINK, HBAR, and many others.
BTC Stalls at $95K
It was just a week ago when the primary cryptocurrency slumped hard and fell below $91,000, which became its most violent correction since the Trump-induced rally started in early November. However, the asset didn’t stay there for long and started to recover ground in the following days.
The weekly peak came on Friday as $BTC
neared $99,000. Nevertheless, the bears managed to defend that level and pushed bitcoin down to approximately $96,500 during the weekend. Monday morning started with a surge to $98,000 but that was short-lived as BTC plunged to $95,000 almost immediately.
Another rollercoaster followed suit with bitcoin jumping to $97,500 before it was driven south once again to $94,500. Despite its recovery attempts since then, BTC now trades just inches above $95,000.
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This decline means that BTC’s market cap has remained below $1.9 trillion, but its dominance over the alts has been pushed south hard. The metric is down to just 52% after peaking at nearly 60% weeks ago, according to CoinGecko.
These Alts Do Good
The past few days belonged to $XRP
and yesterday was no exception as the asset skyrocketed by another 25% at one point and neared $3 for the first time in almost seven years. Although it has retraced since then to $2.6, its market cap of $150 billion still places it as the third-largest cryptocurrency by that metric.
Other massive gainers over the past 24 hours include $ADA
, which has soared by 17%, AVAX (11%), TRX (14%), DOT (16%), LINK (27%), SUI (15%), HBAR (42%), and quite a few others.
The total crypto market cap has gained $70 billion since yesterday as it has all gone to the alts. The metric is above $3.6 trillion once again.