Bitcoin’s mind-blowing weekly rally took the asset to a new all-time high of $90,000, but it failed to break through that level and has since retreated several thousand dollars.
While most altcoins have fallen slightly out of favor, PNUT has entered the top 100 assets by market cap after rising 200% in the last day alone.
BTC crashes at $90k
It was a wild seven-day period of Bitcoin trading. It all started last Wednesday morning, when Trump had a significant lead in the US presidential election. As his victory solidified, the cryptocurrency broke past its March all-time high of $73,737 to top $75,000.
More volatility followed, driven primarily by bulls, as the asset soared to $80,000 over the weekend. Monday started with an even more impressive rally that brought Bitcoin close to $90,000. At first he failed to challenge this level, but yesterday he reached it twice.
However, it has failed to break it, at least for now, and failures at one point pushed it down to five thousand, despite significant inflows into US spot Bitcoin ETFs.
BTC is currently trading at around $87,500. Its market cap on CG has fallen below $1.740 trillion, but its dominance over alternative currencies has jumped to over 57%.
Welcome to the Top 100, PNUT
Starting with today’s biggest gainer – PNUT – it’s safe to say that the recently deceased squirrel has made headlines in the crypto industry. The meme coin has skyrocketed four digits since its launch and is up 220% in the last 24 hours alone. Thus, it has entered the top 100 alternative companies by market capitalization as its net worth reaches $1.3 billion.
On the contrary, most other altcoins have started to lose momentum. Ethereum has dropped 6% in the last 24 hours and is now struggling to stay above $3,150. SOL, BNB and TON showed similar declines, while AVAX, ADA, DOGE, SHIB and AVAX fell by almost 14%.
TRX and SUI are the only exceptions to the larger-cap alternative assets that are actually in the black today.
The total cryptocurrency market capitalization is down more than $100 billion from yesterday’s all-time high of more than $3.1 trillion.
