The cryptocurrency market remains volatile, with Bitcoin striving to reach the $112,000 mark while some altcoins display significant gains.
Bitcoin's Fluctuations
Bitcoin has shown minimal price changes over the past 48 hours, but today it managed to chart a slight gain toward $112,000.
The crypto asset started September, historically a bearish month, on the wrong foot, dipping to a multi-week low of $107,200. However, the bulls defended this level and pushed Bitcoin north. A peak occurred on Friday when Bitcoin soared to over $113,400, marking a seven-day high, but soon after, it dropped by around $3,000 to below $110,500. The weekend saw Bitcoin slip to $110,000, where it found support. Monday began with a positive note, with a price jump close to $112,000, encountering immediate rejection. Currently, Bitcoin stands at approximately $111,600 with a market cap of over $2.220 trillion.
Altcoin Performances
While larger-cap altcoins like ETH, BNB, and LINK remain calm on a daily scale, others like HYPE and DOGE have produced around 7% gains. HYPE is nearing its all-time high at $51, with DOGE trading above $0.23. XRP, SOL, and TRX also show slight gains.
Overall Market Dynamics
The total cryptocurrency market cap has added roughly $50 billion since yesterday, reaching $3.960 trillion. The day's biggest gainer is WLD, which surged over 22% to $1.25, followed by PENGU with a 14% rise to nearly $0.33.
Currently, Bitcoin remains a focal point, demonstrating slight price fluctuations while several altcoins successfully rise, indicating the variety of events on the cryptocurrency market.
