Introduction
Bitcoin has stabilized around $104,000 following a week of significant volatility that saw the cryptocurrency briefly surge past $107,000 before facing rejection. The broader cryptocurrency market continues to struggle, with most major altcoins including Ethereum and XRP registering daily losses and the total market capitalization shedding $20 billion. While Bitcoin’s dominance has recovered slightly to 58%, the altcoin sector faces ongoing pressure with only a few tokens like ASTER showing notable gains.
Key Points
- Bitcoin faced rejection at $107,000 after Trump's tariff check announcement provided temporary bullish momentum
- Ethereum dropped below $3,500 while XRP slid to $2.40 as most major altcoins registered daily losses
- ASTER emerged as a top performer with 8% daily gains, trading above $1.15 despite overall market weakness
Bitcoin's Volatile Journey to $104,000
Bitcoin’s price action over the past week has been characterized by significant volatility, with the asset dipping below $100,000 on multiple occasions before beginning a gradual recovery during the weekend. The cryptocurrency found support at $102,000 before receiving a substantial boost from US political developments. President Donald Trump’s promise to distribute tariff checks of at least $2,000 to non-high-income Americans triggered an immediate surge that drove Bitcoin to $104,000 by Sunday afternoon.
The bullish momentum continued into the new trading week, with Bitcoin climbing past $107,000 on Tuesday morning amid reports suggesting the US government might reopen soon. However, this rally proved short-lived as the asset faced immediate rejection at the $107,000 level. The subsequent selling pressure pushed Bitcoin back down to just under $103,000 before bulls regained some control, stabilizing the price around $105,000. Bitcoin’s market capitalization has tumbled below $2.1 trillion despite its slight recovery in dominance over altcoins to 58%.
Altcoin Market Struggles Amid Broad Sell-Off
The altcoin market continues to face significant headwinds since Tuesday’s peaks, with most larger-cap cryptocurrencies registering daily losses. Ethereum has dropped below the $3,500 level following another 1.8% daily decline, while XRP has slid to just under $2.40 with a similar percentage drop. Solana has experienced more pronounced weakness, falling below $160 after a 3.1% nosedive that reflects the broader risk-off sentiment in the cryptocurrency space.
The selling pressure extends across multiple major altcoins, with DOGE, ADA, ZEC, LINK, and XLM all trading in negative territory. The TRUMP token has registered the most painful decline among major cryptocurrencies, dropping more than 7% to well below $8. This broad-based weakness has contributed to the total crypto market cap shedding another $20 billion in a single day, bringing the aggregate valuation below $3.610 trillion as investors continue to navigate the ongoing price fluctuations.
Notable Outperformers in a Challenging Market
Despite the prevailing negative sentiment across most of the cryptocurrency market, several tokens have managed to buck the trend and register gains. Internet Computer (ICP), Mantle (MNT), Monero (XMR), Uniswap (UNI), and Wall Street Finance (WLFI) have all made some gains over the past day, providing pockets of optimism in an otherwise challenging trading environment.
The standout performers, however, have been CC and ASTER tokens, which have emerged as today’s top gainers. CC has registered an impressive 18% increase, while ASTER has added 8% of value and now trades above $1.15. These gains are particularly notable given the broader market context, where most cryptocurrencies continue to struggle. ASTER’s 8% daily increase represents one of the few bright spots in an altcoin market that has largely failed to maintain momentum from recent peaks.
📎 Related coverage from: cryptopotato.com