Bitcoin (BTC) has found stability around $93,000 after a turbulent week. While BTC recovers, several altcoins, including Stellar (XLM) and Avalanche (AVAX), are on the rise.
Will Bitcoin Target $100K Again?
Over the past week, Bitcoin’s price dropped sharply, falling from nearly $100,000 on November 22 to around $90,700 by November 26. This correction came despite positive market news, such as MicroStrategy’s record purchase of 55,500 BTC, worth approximately $5.4 billion.
In the last 24 hours, Bitcoin bulls have regained some ground, pushing the price back above $93,000. BTC’s market cap now sits at $1.85 trillion, maintaining dominance over altcoins at over 57%. The big question remains: Will Bitcoin make another run for the $100,000 milestone, or will the correction persist?
Altcoins Surge as Bitcoin Stabilizes
While Bitcoin holds steady, several altcoins have surged. Stellar (XLM) leads the charge with an 8% increase, reclaiming the $0.50 mark. Avalanche (AVAX) and Cardano (ADA) have also performed well, rising by 6% and 4%, respectively.
Ripple’s XRP has seen modest growth of 2% in the last 24 hours. However, XRP’s monthly gains stand at an impressive 180%, fueled by key developments like Donald Trump’s U.S. presidential win and Gary Gensler’s announcement to vacate his SEC chairmanship in January.
Other notable altcoins showing growth include Ethereum (ETH), Polkadot (DOT), Tron (TRX), Shiba Inu (SHIB), and Litecoin (LTC).
Crypto Market Outlook
The total cryptocurrency market capitalization is now $3.36 trillion, reflecting a slight 1% dip from November 26. Bitcoin’s stabilization and the upward momentum of altcoins suggest that market participants are closely watching for the next major move.