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Crypto Price Today: The cryptocurrency market continues to be dynamic as Bitcoin reaches a historic $100,000 before retracing to the $98,000 level. The year-long surge, marked by nearly 140% growth, has revitalized market enthusiasm, drawing parallels to the 2017 crypto boom. The spotlight remains on Bitcoin as President-elect Donald Trump promises to prioritize cryptocurrencies, potentially setting the stage for America to become a global crypto hub. The momentum has sparked hopes for an altcoin rally, echoing past trends of volatility and rapid gains.
Bitcoin experienced a significant moment by surpassing the $100,000 milestone for the first time. However, it has retraced back to $98,164.91, registering a -5.11% decline in the past 24 hours. Over the week, Bitcoin has managed a modest +1.73% gain.
The retracement follows high trading volumes and profit-taking after the historic surge. With a market capitalization close to $2 trillion, Bitcoin's next moves will likely determine market sentiment.
Ethereum maintains its upward momentum, trading at $3,887.99, reflecting a +0.83% increase over the last 24 hours and an impressive +8.26% weekly gain. Ethereum continues to gain traction due to its robust ecosystem and widespread adoption in decentralized applications.
Its resilience amid market fluctuations reinforces its position as the second-largest cryptocurrency by market cap.
Ripple is among the top gainers today, trading at $2.38, with a +3.23% daily increase and an astounding +53.09% growth over the past week. XRP's rally highlights renewed investor confidence as the token regains traction in payment systems and decentralized finance.
Solana has showcased resilience, trading at $240.69, marking a +1.90% gain in the past 24 hours. However, it remains slightly down for the week at -0.51%. Solana's focus on scalability and low-cost transactions continues to drive its adoption in decentralized finance and NFT ecosystems.
Shiba Inu has faced a -5.63% dip over the past 24 hours, trading at $0.00003084. Despite the decline, it has gained +18.94% over the week, fueled by community support and increasing utility in decentralized platforms.
Polkadot has been a standout performer, trading at $10.74, with a +3.16% increase in the last 24 hours and an impressive +26.23% weekly gain. Its focus on interoperability and cross-chain communication has positioned it as a leader in blockchain innovation.
Some altcoins have seen remarkable surges in the past 24 hours:
dYdX (DYDX): Gained +30.55%, trading at $2.36, leading the market in daily growth.
Bitget Token (BGB): Increased by +23.25%, reaching $2.19, showcasing strong investor interest.
Worldcoin (WLD): Climbed +22.31% to trade at $4.04, benefiting from renewed market optimism.
JasmyCoin (JASMY): Rose +22.04%, priced at $0.05132, signaling rising demand.
Virtuals Protocol (VIRTUAL): Up +21.45%, now at $1.91, highlighting strong momentum.
Despite market enthusiasm, some cryptocurrencies faced declines:
Bitcoin (BTC): Retraced by -5.11% to $98,164 following its $100,000 milestone.
Shiba Inu (SHIB): Dropped -5.31%, trading at $0.00003091, after a strong weekly rally.
Dogecoin (DOGE): Declined -4.79%, now priced at $0.437, amid profit-taking.
VeChain (VET): Fell -4.35%, trading at $0.06618, reflecting market volatility.
Algorand (ALGO): Down -3.92%, priced at $0.463, continuing its bearish trend.
The cryptocurrency market remains highly active, with Bitcoin's recent performance capturing global attention. Ethereum, Ripple, and Polkadot continue to demonstrate strength, with notable weekly gains signaling investor interest in blockchain utility. Meanwhile, altcoins like Solana and Shiba Inu face minor corrections but remain resilient in the broader trend.
Bitcoin's historic crossing of $100,000 may serve as a catalyst for further market activity, particularly in the altcoin sector. With increased focus on cryptocurrencies from global leaders and institutions, the market's trajectory holds significant potential as 2024 progresses.
