Bitcoin tried and tried to break into a six-digit price territory but was stopped just inches below $100,000 and has been pushed south by around a grand.
Its dominance over the alts has slumped in the past day, as many, such as DOGE, ADA, AVAX, and DOT, have charted double-digit surges.
BTC Fails at $100K
Bitcoin had a highly positive business week, which started with a price surge to over $90,000 on Monday. After a brief retracement, the bulls returned and helped BTC chart a new all-time high of $94,000 on Tuesday.
However, that was just the start as the asset kept climbing and broke above $95,000, $96,000, $97,000, $98,000, and $99,000 by Friday.
Naturally, all eyes turned to the coveted $100,000 target , which many speculated could be broken immediately. However, the bears managed to defend that level well. As such, bitcoin failed to overcome it on Friday, even though it came just $250 away from it.
Since then, the cryptocurrency has corrected slightly and now sits below $99,000. Nevertheless, its market cap is still above $1.950 trillion, placing it as the seventh-largest asset in the world, but its dominance over the alts has taken a big hit and is down to 56% on CG.
Alts on the Rise
The declining BTC dominance means only one thing – alts are exploding. While that cannot be said about ETH, SOL, and BNB, other larger caps have charted mind-blowing surges in the past day.
As already reported, these include XRP , DOGE , and ADA , all of which have shot up to multi-year peaks. The landscape is similar for Avalanche and Polkadot, as they have skyrocketed by 22% each. AVAX now sits close to $44, while DOT is near $7.5.
Even more notable surges come from XLM (52%), ALGO (33%), and VET (31%).
The total crypto market cap reached a new all-time high earlier at over $3.5 trillion on CG.
