Bitcoin’s $10K Rollercoaster as Altcoins Show Signs of Recovery (Market Watch)
2025-02-04
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Bitcoin experienced a full-on rollercoaster on Monday, with its price dumping by ten grand before it recovered almost as such and then lost some of the momentum.
The altcoins followed suit with similar massive price moves, but most are well in the green on a daily scale now.BTC’s Down and Up
The primary cryptocurrency jumped hours after the US Federal Reserve left the interest rates unchanged last week and headed beyond $106,000. It peaked at that line on Thursday and Friday but lost some steam on Saturday.
The landscape worsened during the weekend as US President Trump signed orders to impose tariffs on Canada, Mexico, and China. As these developments unfolded, BTC reacted with a price drop from $102,000 to $97,000 on Sunday.
However, thereal shockertranspired on Monday morning when the cryptocurrency plunged to $91,300 (on most exchanges), thuslosingover ten grand within 24 hours. It bounced off rather quickly and returned to $96,000 during the afternoon but went on the offensive hard in the evening. In fact, itspikedabove $102,000 (another $10,000 move within a 12-hour period) after Mexico and the US paused the tariffs for a month.
Since then, though, BTC has started to lose value again and now sits below $99,000. Its market cap has returned to $1.950 trillion, while its dominance over the alts is up to 58.5% on CG.Alts Back in Green
The alternative coins went through an even more painful correction yesterday, with massive double-digit losses. Most have managed to recover some ground, as ETH is up to $2,700 after a 6% increase, while XRP, which tumbled below $2 at one point, stands at $2.5 now.
Solana, Dogecoin, Chainlink, Cardano, Avalanche, Stellar, Sui, HBAR, and Shiba Inu are also with notable increases over the past 24 hours.
In contrast, TON is down by another 3.5%, while TRUMP has plunged by 6% in the past day and by over 40% weekly.
The total crypto market cap has recovered $250 billion since yesterday’s low and is up to $3.350 trillion on CG.