Bitcoin Holds Strong at $99,780 Despite Market Turbulence

Bitcoin, the market leader, is currently priced at $99,780, showing a modest 2.59% gain in the past 24 hours. While BTC has demonstrated resilience, it has yet to trigger the anticipated bullish breakout that many investors had hoped for. Bitcoin dominance sits at 58.55%, reinforcing its status as the anchor of the market amid widespread declines.

Bitcoin price showed resilience on Monday as the market experienced turbulence. The world’s leading digital asset trades at $99,780 after registering a modest 2.59% gain in the past 24 hours. However, BTC is yet to trigger the anticipated bullish breakout that many investors had hoped for.

Bitcoin price action over the past week. Source: TradingView

BTC’s resilience comes as the market experiences widespread declines. The total cryptocurrency market cap fell by 1.66% over the past 24 hours to $3.38 trillion. Meanwhile, Bitcoin dominance also saw a slight decrease, currently sitting at 58.55%.

Ethereum price drops below $3.2K as altcoins suffer sharp declines

The second-largest cryptocurrency by market cap, Ethereum (ETH), also trades at a loss, currently valued at $3,104 after enduring a 5.93% drop in the past 24 hours. This decline signals broader weakness across the altcoin sector.

Other top altcoins have also struggled. Binance Coin (BNB) fell by 4.27% to trade at $510. Meanwhile, XRP and Dogecoin (DOGE) also saw losses of 3.93% and 2.93%, respectively.

Among the gainers, Chainlink (LINK) and Polygon (MATIC) rose by 2.16% and 1.16%, respectively, over the past 24 hours. At the same time, Filecoin (FIL) and Lido DAO (LDO) also posted gains of over 1%.

Stablecoins hold steady amid market chaos

As the volatility has impacted most assets, stablecoins like Tether (USDT) and USD Coin (USDC) maintained their $1.00 peg. These assets have served as a refuge for investors seeking safety from market fluctuations.

Crypto market cap at $3.38 trillion as fear & greed index stays neutral

The total cryptocurrency market cap currently stands at $3.38 trillion, reflecting the overall market’s struggle to find direction. At the same time, the Fear & Greed Index is at 54, indicating neutral investor sentiment and highlighting the hesitation amid ongoing market instability.

As the market watches for the next major move, all eyes remain on Bitcoin’s ability to sustain momentum, while altcoins attempt to recover from their latest downturn.