Bitcoin Trips At The Finish Line As Altcoins Continue To Soar

Bitcoin (BTC) made several bold attempts to break into the coveted six-figure price range but fell just shy, unable to push past the $100,000 mark, retreating by around $1,000. In the last 24 hours, its dominance over altcoins has slipped significantly, as tokens like DOGE, ADA, AVAX, and DOT surged with double-digit gains.

Struggling At $100K
It has been an exciting week for Bitcoin, which kicked off with a strong push, sending its price above $90,000 on Monday. After a brief dip, Bitcoin roared back, hitting a new all-time high of $94,000 on Tuesday. The momentum did not stop there. By Friday, Bitcoin was charging through the $95,000, $96,000, $97,000, $98,000, and $99,000 levels, each breakthrough creating a buzz in the market.

As Bitcoin neared the $100,000 milestone, expectations soared that it would finally cross into the six-figure territory. But despite coming within just $250 of the mark, the bears held their ground, and Bitcoin failed to break through on Friday.

Since then, Bitcoin has corrected slightly, falling back below $99,000. However, it still boasts a market cap of over $1.95 trillion, solidifying its position as the seventh-largest asset in the world. Despite this, its grip on the altcoin market has loosened, with its dominance dipping to 56%, according to CoinGecko.

Altcoins on the Rise
As Bitcoin wanes, altcoins are making their move. While major players like ETH, SOL, and BNB have not seen much action, other large-cap altcoins have been on fire in the past day. XRP, DOGE, and ADA have all hit multi-year highs, while Avalanche and Polkadot have surged by a staggering 22% each. AVAX is now nearing $44, while DOT is pushing close to $7.5.

Even more striking gains are coming from XLM (up 52%), ALGO (up 33%), and VET (up 31%), signaling that the altcoin market is alive and thriving as Bitcoin faces its resistance. Various meme coins, especially DOGE, have surged lately after Elon Musk joined the Trump administration.

Other Markets

Mexican retailer BBB has exceeded its IPO goals, raising $589 million. However, investors face challenges in predicting the typical stock market rally that follows presidential elections, with history offering little guidance. While stocks rebound, credit demand is high, prompting traders to create short positions. Persistent US inflation is expected to reinforce the Federal Reserve&rsquos cautious approach. Goldman Sachs saw a $900 million loss due to Northvolt, as reported by the Financial Times.

In other news, Boon Vanasin, chairman of Thonburi Healthcare, spoke in an interview, while a Thai medical tycoon wanted for fraud has fled to China. Gautam Adani has been summoned by the U.S. SEC to clarify his role in a bribery case. In Beijing, Xi Jinping congratulated Trump and called for stable relations between the United States and China, a sentiment supported by investment firms like Man Group and Abrdn.

The development of a renewable energy park in Khavda is gaining attention, while an Indian solar agency confirmed a key detail in the Adani indictment. Meanwhile, the commercial real estate sector is facing significant challenges, with even top-rated mortgage-backed securities now seeing losses for the first time since the financial crisis.