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Weekly Cryptocurrency Market: Bitcoin Hits $90,000, Volatility Dominates the Market
Source: PortaldoBitcoin Original Title: Crypto Week: Bitcoin Hits US$ 90,000 as Volatility Marks Market Original Link: Bitcoin prices experienced intense fluctuations around Christmas. After reaching $90,168 on Monday (22nd), attempts to recover gradually were interrupted, and since then, the price has been volatile.
On Wednesday, Bitcoin approached $89,100 but failed to sustain the rally. Throughout the week, BTC experienced significant fluctuations, dropping to $87,500 by Saturday afternoon (27th), with major cryptocurrencies only partially rebounding.
Volatility was lower on Christmas Eve and Christmas Day, but on Friday, BTC attempted to rise again. However, this time it failed to reach $90,000, and was sold off again, falling to $86,500 within an hour.
In the broader market, most altcoins followed BTC’s trend. Ethereum retreated to near $2,900, maintaining stability on Saturday, while XRP fell 4% over the past seven days to $1.85.
In contrast, Zcash (ZEC), Midnight (NIGHT), and Canton (CC) performed strongly, rising 15%, 13%, and 12% respectively, these gains helped the total market capitalization of cryptocurrencies stay above $3 trillion, despite dropping to $2.97 trillion at one point on Wednesday.