- Bitcoin surged to a multi-week high of $99,000 before facing resistance and settling at $97,000, while altcoins like Ethereum and Dogecoin also posted significant gains.
- SUI stood out with a 17% surge, reaching a new all-time high above $5, driving the total crypto market cap to $3.64 trillion.
The cryptocurrency market is off to a roaring start in the new year, with Bitcoin surging to a multi-week high and altcoins posting impressive gains. Among the standout performers is SUI, which charted a fresh all-time high above $5. Let’s dive into the key highlights from the weekend.
Bitcoin’s Rollercoaster Ride
Bitcoin (BTC) continued its resurgence, climbing to an impressive $99,000—its highest level since late December. This surge comes after a rocky end to 2024, where BTC dropped to a monthly low of $91,300.
- The Recovery: Bulls prevented further declines below $90,000, with Bitcoin bouncing back to $96,000 on New Year’s Eve. After a brief dip to $93,000, BTC began a steady ascent.
- The Peak: On January 3, Bitcoin reached $99,000, just shy of the coveted $100K milestone. However, resistance at this level pushed its price back down to $97,000.
- Market Impact: Bitcoin’s market cap has climbed to $1.94 trillion. Despite this, its dominance over altcoins has decreased to 53.3%, signaling a stronger performance by other digital assets.
Altcoins Steal the Spotlight
While Bitcoin’s rally turned heads, the altcoin market delivered a spectacular performance. Ethereum (ETH), which had struggled to break past $3,500, surged by 4.5% and now trades well above that benchmark.
- DOGE and SHIB: Dogecoin (DOGE) outshined many, jumping by 14% to approach $0.39, while Shiba Inu (SHIB) also saw significant gains of 5-7%.
- Other Movers: Solana (SOL), XRP, Cardano (ADA), and Avalanche (AVAX) are all comfortably in the green, highlighting a broad-based rally across the sector.
SUI’s Record-Breaking Surge
The spotlight, however, belongs to SUI, which emerged as the best performer among the large-cap altcoins.
- The Rally: SUI soared by 17% within 24 hours, hitting a new all-time high above $5.
- Market Impact: This remarkable rise underscores the growing demand for SUI, solidifying its position as one of the market’s most promising assets.
Market Overview
The total cryptocurrency market capitalization has risen by $100 billion in just one day, now sitting at a robust $3.64 trillion. The strong start to 2025 hints at renewed investor optimism and potential for further growth in the coming months.
Conclusion
The crypto market has entered the new year with significant momentum, led by Bitcoin’s near-breakthrough of $100K and SUI’s historic surge. With market enthusiasm high, 2025 could prove to be a landmark year for digital assets. As always, investors should proceed with caution and keep an eye on market trends.
