At 10:50 am IST, Bitcoin was trading at $99,487, up 1.2%, with an intraday high of $99,560. Meanwhile, Ethereum rose 1%, trading at $3,671.
Other major altcoins showed mixed performance. Solana, Dogecoin, Sui, Hedera and Tron fell as much as 1%, while XRP, Cardano, Avalanche, Chainlink and Polkadot traded higher. The global crypto market cap increased by 0.53%, reaching $3.52 trillion.
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“Bitcoin is trading near $99,000, maintaining its bullish momentum. For Bitcoin to cross the $100,000 mark, it must overcome resistance at $99,400, while support lies at $96,000,” a said Edul Patel, CEO of Mudrex.Vikram Subburaj, CEO of Giottus, said: “Bitcoin is moving towards $100,000 after a week of strong consolidation. A short squeeze above $101,000 is likely this week, bringing back bullish momentum.
“Altcoins have outperformed Bitcoin on a 7-day basis, with Cardano, Avalanche, Sui and Stellar leading the way. If Bitcoin holds $100,000, altcoins will likely rise further,” Subburaj added.Read also: Understanding the Role of Bitcoin in Modern Investment Portfolios
The volume of all stablecoins now stands at $80.38 billion, or 89.05% of the total 24-hour crypto market volume, according to data available on CoinMarketCap.
In the last 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency, reached $1.972 trillion. Bitcoin dominance is currently at 55.74%, according to CoinMarketCap. BTC volume over the past 24 hours jumped 26.8% to $25.86 billion.
Read also: What’s next for Bitcoin in 2025? Expert predictions and insights
“Bitcoin’s continued rise could push altcoins like Solana (SOL), SUI, ICP, and ENA higher. With Bitcoin near $100,000, demand remains strong, as shown by ETF inflows and reduction in “If Bitcoin breaks this resistance, it could target $108,353 and above,” said Sathvik Vishwanath, co-founder and CEO of Unocoin.
(Disclaimer: The recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of The Economic Times.)
