Introduction
The cryptocurrency market opened 2026 with a powerful rally, led by Bitcoin’s charge toward $95,000 before facing significant resistance. While the primary cryptocurrency pulled back from its multi-week high, the spotlight shifted to altcoins, with Ripple’s XRP surging nearly 10% to lead major-cap gains. The broader market added $50 billion in value, approaching a $3.3 trillion total capitalization, as Bitcoin’s dominance dipped below 57%, signaling a rotation into alternative digital assets.
Key Points
- Bitcoin reached its highest price since mid-November at just under $95,000 before pulling back to $93,500.
- XRP gained almost 10% in 24 hours, flipping BNB in market cap and hitting a multi-week peak of $2.40.
- The total cryptocurrency market cap increased by $50 billion to approach $3.3 trillion, with Bitcoin's dominance falling to 56.8%.
Bitcoin's Ascent and Sudden Rejection at $95,000
Bitcoin entered the new year trading around $88,000, following a negative close to 2025. After a subdued start on January 1, the first business day of 2026 ignited bullish momentum, propelling BTC past the $90,000 threshold. The asset consolidated above this key psychological level throughout the weekend, demonstrating resilience despite geopolitical tensions highlighted by attacks against Venezuela and the capture of its president.
The rally accelerated on Monday, with Bitcoin breaking above $92,000. The bullish pressure continued into Tuesday morning, driving the cryptocurrency to a peak of just under $95,000—its highest price point since mid-November. However, this ascent met immediate and firm rejection. Bitcoin was swiftly pushed south, finding initial support below $93,000 before stabilizing around $93,500 at press time. This price action left Bitcoin’s market capitalization at $1.865 trillion, according to CoinGecko data, but its dominance over the altcoin market contracted to 56.8%.
XRP Outperforms with Double-Digit Gains
While Bitcoin faced resistance, Ripple’s XRP emerged as the standout performer among larger-cap cryptocurrencies. XRP surged almost 10% in a 24-hour period, reaching a multi-week peak of $2.40 before a slight retracement to $2.35. This performance underscores its recent milestone of flipping Binance Coin (BNB) in terms of total market capitalization, solidifying its position among the top digital assets.
The rally was not confined to XRP. Other major altcoins, including Ethereum (ETH), BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK), also posted gains, albeit more modestly. However, the most impressive performances within the altcoin sphere came from Cardano (ADA), Stellar (XLM), and Shiba Inu (SHIB). Bitcoin Cash (BCH) was a notable exception, trading in the red amidst the broader market optimism.
Broad Market Rally Nears $3.3 Trillion Cap
The bullish sentiment extended deep into the altcoin market, with several tokens registering explosive gains. Render (RENDER) led the charge with an 18% surge, followed closely by Sui (SUI) at 16% and Hash (HASH) at 13.5%. This widespread green across market caps fueled a $50 billion increase in the total cryptocurrency market valuation, pushing it close to the $3.3 trillion mark.
The market dynamics reveal a clear narrative: Bitcoin’s rally to a key resistance level triggered profit-taking and a rotation of capital into alternative cryptocurrencies. The dip in Bitcoin’s dominance to 56.8% is a direct consequence of this capital flow, as investors sought higher returns in altcoins like XRP, ADA, and smaller-cap projects. The market’s ability to hold significant gains despite Bitcoin’s pullback from $95,000 suggests underlying strength and diversified buying interest as 2026 gets underway.
📎 Related coverage from: cryptopotato.com
