Bitcoin Price Stalls at $94K, Ethereum Struggles to Maintain $3.2K (Weekend Watch)
2025-01-11
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Bitcoin’s volatile end of the week resulted in a price drop toward $91,000 and a subsequent surge to $96,000 before the asset calmed roughly in the middle.
The altcoins continue to struggle as SOL, ADA, and AVAX have charted 4% daily declines.BTC Calms at $94K
It was nothing short of a volatile rollercoaster of a week for the primary cryptocurrency. It all started quite promising after the most recent MicroStrategy purchase on Monday, as the asset flew past $100,000 for the first time this year and kept climbing on Tuesday morning to over $102,000.
However, that’s when the landscape changed, and BTC slumped hard later that day, and on Wednesday, it slumped to $96,000. Although that was a painful correction on its own, bitcoin keptplungingin the following days to $91,200 (on Bitstamp) on Thursday, which became itslowest price tagin over a month.
The bulls managed to intervene at this point and pushed BTC north. More volatilityensuedwith several big moves that eventually pushed the asset to $96,000. However, it failed there and has lost almost two grand since then to trade at $94,000 as of now.
Its market cap has risen to just under $1.870 trillion on CG, while its dominance over the alts is up to 54.5%.ADA, SOL Struggle
Most altcoins are in the red today as well. Ethereum slipped below $3,200 on Thursday, and even though it managed to recover some ground since that low is close to breaking below it now after a 2.3% daily decline. XRP is among the few alts with minor gains today.
In contrast, SOL, ADA, SUI, AVAX, and LINK continue to lose value, with losses of up to 4%. SOL is well below $190 now, while ADA is just over $0.9. More painful losses come from OM, ICP, and RNDR from the larger cap alts.
The total crypto market cap has lost some steam since yesterday and is down to $3.43 trillion on CG.