Dogecoin Hit New 3.5-Year High, Bitcoin Price Drops Below $100,000 (Weekend Watch)

The price of Bitcoin continues to flirt with the coveted $100,000 mark, but has lost some momentum since yesterday and now sits below it.

Altcoins posted impressive gains on Saturday evening, including a new multi-year high for DOGE, but have also bounced back.

BTC below $100,000

The major cryptocurrency’s stunning surge following Trump’s landslide victory in the US election pushed the asset from under $70,000 to nearly $100,000 in a matter of weeks. He couldn’t break into six-figure territory for a while, though, as the Bears managed to defend him.

This finally happened last Thursday when BTC entered a price discovery mode above $100,000 and hit a new all-time high of nearly $104,000. What followed was a sudden and violent pullback that drove it south by more than ten thousand in hours to $92,000 on most exchanges.

After shedding a large number of leveraged positions, BTC went back on the offensive and jumped to $102,000 on Friday evening. However, he has not been able to maintain this level and has lost a few thousand since then. It even dipped below $100,000 today, where it currently stands.

Its market cap is just over $1.960 trillion at CG, and its hold on the highs has calmed down to 51.4%.

Bitcoin/Price/Chart 8.12.2024. Source: TradingView PEPE’s New ATH

With the word altseason viral on X, many altcoins performed well in the last 24 hours. PEPE, for example, shot up 20% at one point and painted a new all-time high above $0.000026 before correcting slightly.

Dogecoin also jumped high and approached $0.5 for the first time in three and a half years. SHIB is fine today amid some dispute over whether it could lose its position to PEPE at the end of the year.

XRP headed south for a few days in a row, but has bounced back with a 4.5% increase to trade above $2.5 now. The rest of the higher capitalization stocks are much less volatile.

The total crypto market capitalization has retreated around $40 billion since yesterday and is down to $3.82 trillion in CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

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