Bitcoin price action has remained flat as the cryptocurrency has settled around $95,000, with only minor fluctuations yesterday.
Most altcoins have also performed similarly over the past 24 hours, with little or no price change. However, TRUMP token has seen a sharp drop after reports suggested that the team behind it has started selling their holdings.
Bitcoin has seen a huge surge over the past trading week. It started on Monday with a rally from $84,000 to $88,000, which allowed BTC to break through the upper channel resistance at $86,000.
The following day, BTC surged above $90,000 for the first time since early March. Continued buying pressure from bulls took BTC to near $96,000 on Friday, its highest price in two months.
Although the momentum stopped there, BTC managed to hold on to around $94,000–$95,000 throughout the weekend. The price briefly dropped below $93,000 yesterday, but market players managed to hold onto that level and BTC is now trading around $95,000.
Bitcoin’s market cap is now close to $1.890 trillion on CoinGecko, while its market dominance over altcoins is at 61%.
Trump’s official token saw a dramatic surge last week after news that the top 220 holders would attend a special dinner with the US President. However, recent reports suggest that the team behind the token has moved a large number of tokens to exchanges, likely for sale, causing the TRUMP token price to plunge more than 7% in a day.
Among the altcoins with large market caps that also saw declines today are PI, XMR, SUI, SOL, HBAR, XLM, ADA, DOGE and XRP.
On the other hand, BCH was the best performer with a surge of over 5.5%, currently trading at $375. BNB, ETH and LINK also showed slight gains in the past 24 hours.
The total crypto market cap remained almost unchanged, at just under $3.1 trillion.
