Bitcoin price action has returned to positive performance in the last few hours, coming close to reaching a new all-time high (ATH), but was pushed back before it could set a record.
Most altcoins also showed small daily gains, with Ethereum (ETH) holding steady at $2,500, while Cardano (ADA) surged around 2.5%.
A very volatile trading period for Bitcoin began abruptly last weekend. After a gloomy Saturday at around $103,000, the major cryptocurrency began an impressive upward surge on Sunday night, only to be stopped at $106,000.
After a slight price correction, buying regained control and pushed the price to a multi-month high of over $107,000. However, another drastic rejection occurred, causing Bitcoin to plunge below $102,500 by the end of Monday.
The selling, however, failed to sustain the pressure for long. Bitcoin surged back to near $107,000 on Tuesday. While it initially failed to break through that level, another short-lived rally managed to push the price past the barrier. In early Asian trading today, the price touched just above $108,000 (on Bitstamp), just less than 1% short of creating a new ATH.
However, the rally has stalled again and Bitcoin is now trading below $107,000. BTC’s market cap is now at $2.120 trillion, with market dominance of almost 61%.
The total crypto market cap has increased by over $50 billion in a day, now at $3.480 trillion according to CoinGecko data.
