Bitcoin’s gradual price ascent that resumed earlier this week continued in the past 24 hours as the asset tapped $98,000 for the first time in about two months.
Its dominance over the altcoins has risen within the same timeframe, as most altcoins have failed to double down on their recent gains. Nevertheless, ETH is still well above $3,350, aiming at $3,400.
BTC Dominance Pumps
After last week’s price gains that drove BTC from under $90,000 to almost $95,000 within days, the cryptocurrency’s run was halted, and it slipped below its starting point. However, the bulls quickly intercepted the move and helped bitcoin reclaim the $90,000 support.
It tried to break out on a couple of occasions. Although it failed at $92,000 the first few times, it finally reclaimed that level on Tuesday and surged to $96,500. The bears stepped up at this point, driving it to under $94,500, but BTC was quick on the gas pedal.
On Wednesday evening, it skyrocketed by several grand again and touched $98,000 for the first time since mid-November. This came despite the growing geopolitical tension. Although it was stopped there, it currently sits at $97,000 with a 2.2% increase in the past day.
Its market capitalization has risen to $1.940 trillion on CG, while its dominance over the alts has grown to 57.5%.
BTCUSD Jan 15. Source: TradingView
ETH Eyes $3.4K
Ethereum has also charted a daily increase, even though it’s more modest than BTC’s. It’s up by 1% and sits above $3,350, with analysts expecting another surge to and beyond $3,400. BNB, TRX, XMR, and BCH are also slightly in the green, while XRP, DOGE, ADA, LINK, and XLM have dropped over the past day.
HYPE, LTC, HBAR, TAO, and CC are also in the red, while RAIN and ICP have become the top performers from the larger caps. HASH has stolen the show, surging 20%.
The total crypto market cap has added another $40 billion overnight and is up to $3.370 trillion on CG.
Cryptocurrency Market Overview Jan 15. Source: QuantifyCrypto
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