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Bitcoin Price Taps $99K, Avalanche Jumps 4% Daily (Market Watch)
The cryptocurrency market has begun the new year with a strong start, with bitcoin experiencing an astonishing increase in value. As reported by CryptoPotato, Bitcoin has tapped a multi-week peak of nearly $100,000 before being stopped and pushed south by roughly a grand.
Despite the trading volumes declining over the weekend, Bitcoin maintained its momentum and remained at a relatively similar position. The asset started the new week on a positive note with a surge to a two-week peak of $99,800 (on Bitstamp), where it faced enhanced resistance.
The recent price action has seen Bitcoin stand at around $99,000, accompanied by a market capitalization above $1.96 trillion and dominance over the altcoins at 53.4% on CG.
In contrast, most larger-cap alts have struggled to generate significant moves in either direction. ETH, BNB, SUI, and LINK have only experienced minor gains, while XRP, SOL, DOGE, and ADA are witnessing insignificant losses.
Avalanche, however, has bucked the trend and risen by nearly 5% and is now trading at approximately $44. Other notable gainers include RNDR, FET, and FIL, with increases of around 6-7%.
Additionally, the total cryptocurrency market cap has added roughly $30 billion overnight and now stands at over $3.68 trillion on CG.
AVAX Chart. Source: TradingView
Source: cryptopotato.com
