Bitcoin Price Reaches $99,000, Avalanche Increases 4% Daily (Market Watch)

Bitcoin held on to its Friday and weekend gains and even jumped to a multi-week high of nearly $100,000 before being halted once again and pushed south by nearly a thousand dollars.

Most altcoins are also quite slow on a daily scale, with ETH remaining above $3,600 and SOL above $210.

BTC approached $100,000

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

It rose to over $96,000 on New Year’s Eve, but quickly dropped to below $93,000. The bulls finally stepped up for good at that point and took it above $97,000 by January 2nd. After another brief pullback of about a thousand dollars, BTC soared to $99,000 on Friday amid rising ETF inflows.

Although trading volumes over the weekend decreased, BTC maintained its run and remained relatively in the same position. Monday started on a more favorable note, rising to a two-week high of $99,800 (on Bitstamp), where it faced further resistance.

As of now, bitcoin sits at around $99,000 after a small pullback, with its market cap above $1.96 trillion and its dominance over alts at 53.4% ​​on CG.

AVAX on the rise

Most of the larger cap alternatives have failed to produce big moves in either direction. ETH, BNB, SUI and LINK have recorded minor gains, while XRp, SOL, DOGE and ADA have negligible losses.

Avalanche is the best performer among the largest-cap alternatives. AVAX is up almost 5% and is now around $44. The other notable gainers include RNDR, FET and FIL, with increases of around 6-7%.

The total crypto market capitalization has added around $30 billion overnight and stands at $3.68 trillion in CG.