Bitcoin’s gradual price increases led the asset to a multi-month peak of over $98,000 yesterday, but it was stopped before even having the chance to challenge the $100,000 mark.
Most altcoins have followed suit today with minor losses, led by 3% declines from AVAX and PEPE.
BTC Stopped at $98K
It was the beginning of the previous trading week when the primary cryptocurrency skyrocketed from $84,000 to over $90,000 within a matter of 36 hours or so. The bulls kept pressing the asset up, culminating in a surge to a two-month high of $96,000 on April 25.
BTC finally faced some resistance there and was unable to go further. In the following week, consolidation reigned, and the cryptocurrency remained sluggish within a tight range between $93,000 and $95,000. The lower boundary was tested on a couple of occasions but held strong.
The subsequent bounce-off on Thursday resulted in a price breakout from the upper boundary, driving the cryptocurrency to a new multi-month high of $98,000.
However, the bears stepped up once again, preventing BTC from continuing its ascent towards a six-digit territory. Just the opposite occurred, with Bitcoin losing almost two grand since then and now sitting just above $96,000.
Its market capitalization is well above $1.910 trillion, and its dominance over altcoins reached a new four-year high of almost 62%. Other data indicates it has risen to 64%, which could signal good news for altcoins soon.
Alts Fall Back
Most altcoins have mirrored BTC’s performance over the past day, with minor losses observed in ETH, XRP, DOGE, SOL, ADA, SUI, LINK, and XLM. AVAX and PEPE have dropped the most, around 3% each.
In contrast, TRUMP, KAS, and TAO have jumped by between 3% and 4%. VIRTUAL has taken the main stage again, gaining over 6% and trading above $1.7.
Despite the fluctuations, the total cryptocurrency market cap has shed around $30 billion since yesterday’s peak but remains above $3.1 trillion.
