- Bitcoin has stabilized at $105,000 after a volatile week, maintaining a market cap of $2.08 trillion and dominance above 55%.
- Meanwhile, altcoins like Solana and Dogecoin lead the market recovery with 6% gains, pushing the total crypto market cap near $3.8 trillion.
The cryptocurrency market is experiencing another thrilling chapter, with altcoins like Solana (SOL) and Dogecoin (DOGE) spearheading a recovery after recent volatility. Meanwhile, Bitcoin (BTC) continues to stabilize around $105,000, maintaining its dominance in the ever-changing crypto landscape.
Bitcoin: A Rollercoaster Ride to $105K
Bitcoin’s price journey over the past few days has been nothing short of dramatic. The leading cryptocurrency broke past the $100,000 milestone last week, reaching an all-time high of $109,000 within a matter of hours. However, the market witnessed turbulence, with BTC briefly dipping below $100,000 before reclaiming stability at $105,000.
Monday’s political developments also played a role in influencing Bitcoin’s price. Despite expectations, a lack of crypto-related mentions during a significant inauguration event caused BTC to momentarily tumble. Nevertheless, bulls quickly regained control, pushing its market cap to an impressive $2.080 trillion, with Bitcoin retaining dominance over 55% of the market.
Altcoins Shine: Solana and Dogecoin Steal the Spotlight
While Bitcoin held steady, altcoins emerged as the day’s big winners. Solana (SOL) and Dogecoin (DOGE) saw significant gains, each rising by approximately 6%. Solana’s price surged beyond $250, reinforcing its status as one of the top-performing large-cap cryptocurrencies.
Dogecoin, known for its community-driven appeal, also made waves, climbing above $0.36 after a dramatic surge the previous day. Other prominent altcoins like Ethereum (ETH), Binance Coin (BNB), and Cardano (ADA) showed modest gains, while TRON (TRX), Chainlink (LINK), and Avalanche (AVAX) added around 3-4% in value.
Smaller players like HYPE and CRO also joined the upward trend, with the latter gaining traction after its exchange launched in the U.S.
Total Market Cap Nears $3.8 Trillion
The overall cryptocurrency market cap has experienced a notable daily increase of over $100 billion, bringing it close to $3.8 trillion. This surge underscores the resilience of the crypto market, even amidst periods of uncertainty and volatility.
What Lies Ahead?
As Bitcoin stabilizes and altcoins recover, the crypto market continues to captivate investors worldwide. With Solana and Dogecoin leading the charge, the coming days will reveal whether this momentum can be sustained or if further volatility is on the horizon.
