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.
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