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The price of Bitcoin has been relatively stable after several days of volatility related to developing tensions between the United States and the European Union. Currently, the currency’s price remains below $90,000.
On the other hand, several alternative currencies recorded significant gains over the 24 hours, the most notable of which was the digital currency Hyperliquid (HYPE), which rose by around 11% after a week of losses.
Bitcoin traded above $95,000 over the weekend before pressure mounted as the Greenland dispute escalated and tariffs threatened, causing it to fall as Asian and futures markets opened early in the week.
Bitcoin price fell to 92K before losing support at 90K, falling to lows near $87,200 on Wednesday.
After the Davos Summit statement that there would be no use of force, the price quickly rose above 90,000, and then returned to fluctuating between $88 and $90,000.
Ultimately, Bitcoin failed to break through 91K on Friday and eventually fell below 90K, with a market capitalization of less than $1.8 trillion and a dominance of approximately 57.5%.
In the altcoin market, Ethereum remains below $3,000 despite slight gains, while XRP remains below $2.00 and BNB is below $900.
Gains are clearly visible for XMR, CC and WLFI.
As for HYPE, it was the best performer today, rising to around $23, although it is still down more than 7% on a weekly basis.
RIVER recorded a daily increase of approximately 32% and entered the top 100 currency list, while MYX increased by approximately 12%.
Overall, the cryptocurrency market remains cautiously stable at $3.1 trillion, ahead of any new developments.
Also read:
Ethereum whales are collecting more ETH despite price stagnation… is this the calm before the storm?
