Bitcoin’s price reached a temporary height today, surpassing $92,500 before falling back to approximately $92,000. Several other major altcoins recorded smaller gains as Ethereum regained the $3,100 mark and Binance Coin reached $910. Notably, Monero (XMR) caught attention by achieving a new all-time high.

BTC Aims at $92K

The leading cryptocurrency kicked off the previous business week with a notable ascent, gaining traction from weekend activities. At that time, BTC crossed the $90,000 threshold and peaked at almost $95,000 on Tuesday morning. However, the momentum slowed as bears took control, pushing BTC down to below $89,500 by Thursday.

After losing over $5,000 within just 48 hours, Bitcoin managed to recover, maintaining a range of $90,500 over the weekend after a failed attempt to breach $92,000 on Friday.

On Monday, Bitcoin resumed its upward drive, testing the $92,000 level multiple times, but faced rejection twice. Earlier today, it momentarily touched $92,500 again, currently trading at about $92,000, with a market cap of $1.840 trillion.

Its dominance over the altcoin market has begun to recover, now rising to 57.1% on CoinGecko, having dipped to 56.6% in recent days.

BTC Chart
BTCUSD Chart on January 13. Source: TradingView

XMR Continues to Surge

In recent days, Monero (XMR) has achieved significant milestones, previously surpassing ZCash to become the largest privacy cryptocurrency. XMR has reported a daily increase of 17% and a 50% rise over the week, reaching a record high of $686 earlier today. Other notable cryptocurrencies like MYX and IP have also surged in value, though BCH and LTC experienced slight declines.

In summary, the total cryptocurrency market capitalization has risen by $40 billion, now valued at $3.220 trillion.