In the past 24 hours, Bitcoin's price continued to climb, briefly breaking through $99,000, setting a new high in weeks, but then retraced, dropping by about $1,000.
Meanwhile, several altcoins have also performed well, especially ETH, whose trading price has significantly surpassed $3,500, while DOGE has seen double-digit gains, indicating an increase in market activity.
BTC target price is $99,000
Since the crash in mid-December, Bitcoin (BTC) has failed to recover most of its losses, hovering below $100,000. Particularly on December 30 (Monday), BTC dropped to a monthly low of $91,300, with bears generally predicting it might fall below $90,000 again.
However, the bulls stabilized the situation at a critical moment, preventing further price declines. After a period of volatility, BTC finally rebounded and rose to $96,000 on December 31. Although it subsequently fell back to $93,000, this pullback did not continue, and instead began to gradually recover ground with a stronger rebound.
With the arrival of the New Year, Bitcoin broke through $97,000 again on January 2, and continued to rise in the following 24 hours, eventually reaching a peak of $99,000, the highest since December 26. Although it failed to break through this level, the current price has retreated to around $97,000.
After this round of recovery, Bitcoin's market capitalization has risen to $1.94 trillion, but its dominance in the altcoin market is once again challenged, with market share dropping to 53.3%.
Bitcoin Price Chart January 4, 2024.
SUI sees new ATH
In the past day, alternative currencies also performed well, achieving significant gains. ETH finally broke through the resistance of $3,500 after weeks of struggle and, after a daily increase of 4.5%, is now well above that level. Meanwhile, SOL, XRP, ADA, AVAX, TRX, and TON have also seen varying degrees of increases.
In addition, LINK and SHIB both rose by about 5-7%, while DOGE surged 14%; although it slightly retreated from its intraday high, it is currently still close to $0.39.
Among large alternative assets, SUI has shown the most outstanding performance, surging 17% in the past day and setting a new all-time high of over $5.
Since yesterday, the total market capitalization of the cryptocurrency market has increased by about $100 billion, with the current market cap on CoinGecko at $3.64 trillion.
Cryptocurrency market overview.
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