Bitcoin Stopped at $103,000, But These Altcoins Have Substantial Losses (Weekend Watch)

Bitcoin price hit a new multi-week high of just under $103,000, but stopped there and pushed south around a million.

Altcoins have fared worse on a 24-hour scale, leading to increasing dominance of BTC.

BTC Dominance Increases

Monday and Tuesday saw a few violent price rejections for the main cryptocurrency, which reached $94,400 on a couple of occasions during those days. However, the bulls managed to prevail and fueled a few advances that helped BTC recoup all losses and rush to challenge for six-digit entry territory on Thursday.

Bitcoin actually broke through that level and rose to $102,000 on Friday and Saturday. It stopped there at first, but the bulls pushed it further hours ago to just under $103,000.

However, it failed to penetrate this line and is now below $102,000. However, its market capitalization continues to experience new local peaks and stands well above $2 trillion.

BTC’s dominance over altcoins is also on the rise. The metric has risen to over 53% in CG after falling to 52.5% yesterday.

Bitcoin/Price/Chart 12/15/2024. Source: TradingView Alts in Retrace

Most of the altcoins also tried to break out over the weekend, but most have stalled and have noticeable losses on a daily basis. Ethereum and Ripple are down around 2%, with the former struggling below $3,900 and the latter at $2.4.

ADA, DOGE, BNB and SOL have dropped up to 5% in the case of the former. Tron, Avalanche, Polkadot and SUI have all fallen further, in some cases as much as 8%.

The cumulative market cap of all crypto assets is down around $70 billion in one day and is now well below the $3.8 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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