Bitcoin Price Action
Bitcoin's price experienced a rejection at the $107,000 mark and subsequently fell below $103,000. However, bulls stepped in, helping the asset recover some of its losses.
After a volatile previous week where Bitcoin's price dipped below $100,000 on multiple occasions, the asset began a gradual recovery over the weekend, reaching $102,000. Sunday saw further positive movement, boosted by US President Donald Trump's announcement to distribute tariff checks of at least $2,000 to non-high-income Americans.
Bitcoin's price reacted immediately with a surge that pushed it to $104,000 in the afternoon. The asset continued its upward trend on Monday, and following reports that the US government might reopen, it surpassed $107,000 on Tuesday morning.
However, this rally was halted at that level, and Bitcoin quickly retreated to $105,000. Selling pressure from bears pushed Bitcoin to just under $103,000. Since then, it has managed to regain some traction and is currently trading near $105,000 again.
Despite these movements, Bitcoin's market capitalization has fallen below $2.1 trillion on CoinGecko, while its dominance over altcoins has slightly recovered to 58%.
Altcoin Market Performance
Most larger-cap altcoins are currently trading in the red on a daily basis. Ethereum (ETH) has dipped below $3,500, and XRP has slid to $2.40. Solana is trading below $160 after a 3.1% decline. DOGE, ADA, ZEC, LINK, HYPE, and XLM are also experiencing losses. TRUMP has seen the most significant drop, falling by over 7% to well below $8.
In contrast, ICP, MNT, XMR, UNI, and WLFI have shown some gains over the past day. CC and ASTER are the top performers today, with CC up by 18% and ASTER adding 8% in value to trade above $1.15.
The total cryptocurrency market capitalization has decreased by another $20 billion in the last 24 hours, standing below $3.610 trillion as of press time on CoinGecko.
