Bitcoin reached $96,000 at the start of the year but quickly retracted by a few thousands. Altcoins also began the year with losses.
BTC Stopped at $96K
The primary cryptocurrency had a tough end to the year, falling from an all-time high of $108,300 to $92,000 in mid-December. Despite attempts to recover, bears kept Bitcoin below $100,000. Its drop to $91,300 marked a monthly low. After partially recovering to $96,000, Bitcoin retracted again to $93,000. Its market cap slipped below $1.850 trillion, maintaining a dominance of 54.3%.
Alts Back in Red
Alternative cryptocurrencies also faced difficulties at the end of 2024. Ethereum lost nearly 2% and dropped below $3,400, similar price drops were seen in SOL, DOGE, ADA, AVAX, TON, and DOT. Chainlink decreased by almost 5%, sinking its price below $20. In contrast, XRP and some other cryptos showed minor gains of 5-7% each.
Summary Information
The total crypto market cap decreased by $30 billion to $3.4 trillion. The new year starts with volatility for Bitcoin and altcoins, indicating further market uncertainty.
The year begins with volatility for the cryptocurrency world. While Bitcoin tries to stabilize after a sharp rise and fall, altcoins continue their struggle, setting an uncertain tone for the market ahead.
