Monero's Impressive Surge and Bitcoin's Decline: Market Overview
In a turbulent trading environment, Monero has made significant gains while Bitcoin faces continued resistance at $92K.
Monero’s Impressive Surge and Bitcoin’s Decline: Market Overview
Following a subdued weekend, Bitcoin’s price experienced a brief spike before retreating. However, Monero (XMR) has notably increased its value by 17%, reaching approximately $580.
Bitcoin Stalled at $92.4K
In the previous week, Bitcoin was on an upward trajectory, nearing $95,000 after starting the week around $91,500. Nonetheless, bearish forces quickly reversed this momentum, keeping Bitcoin under $92,000. The price fluctuated between $90,000 and $91,000 during the weekend. On Monday morning, amidst escalating tensions involving US President Trump and Fed Chair Powell, Bitcoin briefly hit $92,400, only to decline to around $90,600 shortly after.
Bitcoin’s current market cap stands at $1.81 trillion, maintaining a dominance of 56.9% over alternate coins.
BTCUSD Jan 12
Monero Leads the Charge
In contrast to Bitcoin, most large-cap altcoins have not shown significant gains. Monero’s performance has stood out, with a remarkable 17% rise to $580, following its challenges from ZEC. Other performers include MYX and CC, while POL saw a downturn of over 8% after its upward rally.
The total cryptocurrency market capitalization remains steady at just under $3.2 trillion.
