Following a few days of retracements and consolidation during the weekend, bitcoin seems to be preparing for another charge toward the coveted $100,000 target.
Many altcoins have also turned green today, with AVAX skyrocketing to almost $50 and XRP reclaiming the $1.5 level.
Is BTC Aiming at $100K Again?
It was a highly positive trading week for BTC as the asset started last Monday at around $90,000 but quickly resumed its bull rally and shot up to a new all-time high at the time on Wednesday of $94,000. After a minor pullback, it went on the offensive again, and broke above $95,000 on Thursday.
The gains continued on Friday when bitcoin came agonizingly close to $100,000. In fact, it was just $200 away from it on Friday evening, but the bears managed to defend that level and didn’t allow it to break.
The weekend went with some retracements, as the cryptocurrency slipped to $98,000 on Saturday and below $96,000 on Sunday evening. Nevertheless, it managed to bounce off and has neared $99,000 once again now. This has put the $100,000 speculations back on the table for today.
For now, BTC’s market cap has risen above $1.950 trillion on CG, but its dominance over the alts is down again, this time to 55.3%.
AVAX Shoots Up
The altcoins also registered some notable price declines on Sunday evening, but most have managed to reverse the trend. ETH is up by 2.5% and now sits above $3,450. SOL has climbed above $250 after a 1.4% daily increase. DOGE, ADA, TON, SHIB, and SUI have marked minor price gains as well.
Ripple has jumped above $1.5 once more after adding 6% since yesterday. LINK, DOT, NEAR, ICP, and BCH have also increased by substantial percentages in a day.
Avalanche’s native token is the top performer today, gaining over 14%. As a result, AVAX now sits close to $50.
The total crypto market cap has recovered most of the Sunday losses and is up to $3.550 trillion on CG.
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Cryptocurrency charts by TradingView.
