Bitcoin’s price has climbed above $105,000 in the last 24 hours, with the cryptocurrency briefly reaching $106,000.
BTC Above $105K
At the start of the week, Bitcoin attempted to break out of its consolidation range but faced resistance at $106,000 and $106,500 on Monday and Tuesday. Subsequent rejections pushed the price down, but bulls regained momentum on Thursday. Despite another rejection at $106,000, Bitcoin’s price fell sharply, influenced by tensions between US President Trump and Tesla CEO Musk, hitting a multi-week low of $100,400 on Bitstamp. However, the asset quickly recovered, reaching around $105,000 by Friday noon. Although some volatility persisted, Bitcoin was stopped at $106,000 yesterday and now trades approximately $500 lower.
Alts Up and Down
On a weekly scale, HYPE has emerged as the top gainer, increasing by nearly 9%, now priced above $35, close to its recent peak. ICP follows with an 8% weekly rise, while LEO, TRX, and AAVE also saw gains. Conversely, TAO dropped by 11%, with GT and CRO decreasing by 5.3% and 5.2%, respectively. SOL, DOGE, ADA, AVAX, and SHIB are also set to end the week in the red. The total crypto market cap has increased by approximately $30 billion since yesterday, reaching $3.410 trillion on CG.
Market Cap and Dominance
Bitcoin’s market capitalization has risen to nearly $2.1 trillion, maintaining a dominance over altcoins at 61.5%.
