Bitcoin faced significant volatility yesterday following the latest developments in South Korea, but it managed to recover from losses and is now back around $97,000.
However, the market’s attention is focused on a few altcoins such as TRX and BNB, both of which hit new all-time highs.
After a rebound last week from $91,000, the major cryptocurrency surged above $98,000 on Friday. However, strong selling pressure prevented attempts to break through the six-figure price range.
BTC fell over the weekend and remained in a range between $96,000 and $97,000. Monday started with a brief surge above $98,000, but selling pressure pushed the price back below $95,000. A new wave of volatility hit the market with a surge to $97,500 and then a decline to $94,500.
A similar scenario played out yesterday during a brief state of emergency in South Korea, sending BTC plummeting to $93,500, with warnings of a larger correction possible.
Bitcoin’s market cap has returned above the $1.9 trillion mark, but altcoin dominance has fallen to 51.3% on CG.
TRX emerged as the best performer today, jumping nearly triple digits to over $0.4, hitting an all-time high. Binance Coin (BNB) also hit a new high of nearly $800.
Other large-cap altcoins such as AVAX, TON, DOT, BCH, ETC, and FIL also saw significant gains. Ethereum is up over 3% and is now above $3,700.
The total crypto market cap has added $60 billion since yesterday, and is now at a new high of over $3.730 trillion on CG.
