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Dogecoin Tapped New 3.5-Year Peak, Bitcoin Price Slips Below $100K (Weekend Watch)

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

The altcoins registered impressive gains on Saturday evening, including a new multi-year peak for DOGE, but have retraced as well.

BTC Beneath $100K

The primary cryptocurrency’s impressive surge following Trump’s landslide victory in the US elections pushed the asset from under $70,000 to almost $100,000 within a few weeks. However, it couldn’t penetrate into six-digit territory for a while as the bears managed to defend it.

This finally transpired last Thursday when BTC went into a price discovery mode above $100,000 and tapped a fresh all-time high of almost $104,000. What followed was a sudden and violent rejection that drove it south by over ten grand in hours to $92,000 on most exchanges.

After it flushed out a large number of leveraged positions, BTC went on the offensive once again and jumped to $102,000 on Friday evening. However, it has been unable to sustain that level and has lost a few grand since then. It even slipped beneath $100,000 earlier today, where it currently stands.

Its market cap is just over $1.960 trillion on CG, and its dominance over the alts has calmed at 51.4%.

Bitcoin/Price/Chart 8.12.2024. Source: TradingView
Bitcoin/Price/Chart 8.12.2024. Source: TradingView

PEPE’s New ATH

With the word altseason going viral on X, many alternative coins did well in the past 24 hours. PEPE, for example, skyrocketed by 20% at one point and painted a fresh all-time high of its own at over $0.000026 before correcting slightly.

Dogecoin also jumped high and neared $0.5 for the first time in three and a half years. SHIB is well in the green today amid some dispute about whether it could lose its position to PEPE by the end of the year.

XRP was heading south for a few days straight but has bounced back with a 4.5% surge to trade above $2.5 now. The rest of the larger-cap alts are much less volatile.

The total crypto market cap has retraced by around $40 billion since yesterday and is down to $3.820 trillion on CG.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto

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