Bitcoin Price Taps $99K, Avalanche Jumps 4% Daily (Market Watch)

Bitcoin maintained its Friday and weekend gains and even jumped to a multi-week peak of almost $100,000 before it was stopped once again and pushed south by nearly a grand.

Most altcoins are quite sluggish on a daily scale as well, with ETH remaining above $3,600 and SOL standing above $210.

BTC Came Close to $100K

The beginning of the previous business week was anything but positive for BTC as the asset slumped to a monthly low of $91,300. Its volatile rollercoaster continued in the following days with several fluctuations worth thousands of dollars.

It pumped to over $96,000 on New Year’s Eve but was quickly pushed south to under $93,000. The bulls finally stepped up for good at that point and pushed it to over $97,000 by January 2. Following another brief retracement by about a grand, BTC shot up to $99,000 on Friday amid the growing ETF inflows.

Although the trading volumes during the weekend declined, BTC maintained its run and remained at relatively the same position. Monday began on a more favorable note, with a surge to a two-week peak of $99,800 (on Bitstamp), where it faced enhanced resistance.

As of now, bitcoin stands at around $99,000 after a minor retracement, with its market cap above $1.960 trillion and its dominance over the alts at 53.4% on CG.

AVAX on the Rise

Most larger-cap alts have failed to produce any big moves in either direction. ETH, BNB, SUI, and LINK have charted minor gains, while XRp, SOL, DOGE, and ADA are with insignificant losses.

Avalanche is the top performer from the larger-cap alts. AVAX has risen by almost 5% and now sits around $44. The other notable gainers include RNDR, FET, and FIL, with increases of around 6-7%.

The total crypto market cap has added around $30 billion overnight and is up to $3.680 trillion on CG.