Bitcoin Surpasses $95,000: Which Altcoins Are on the Rise?

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Bitcoin Surpasses $95,000: Which Altcoins Are on the Rise?

The cryptocurrency market has started the new year with strong momentum. Bitcoin is trading above $95,000 at $95,800, while leading altcoins such as XRP, Solana, and Stellar have experienced gains exceeding 20% in the last 24 hours. This market surge has been supported by increased institutional interest despite a decline in trading volumes.

In the morning hours, Bitcoin saw an increase of over 2.5%, trading around the $95,800 mark. Ethereum also gained a similar percentage, reaching the $3,400 range again after a three-day horizontal trend.

Notable movements in altcoins indicate that over the past 24 hours, major altcoins have gained substantial value, with XRP rising 10.3%, Stellar up 21%, Solana increasing by 8.8%, and Cardano gaining 10%. The total cryptocurrency market capitalization rose by 2.7% to $3.36 trillion. However, trading volume decreased by 3% to $103 billion.

Experts anticipate that trading volumes will increase in the coming days as the holiday season comes to an end. Strong year-end inflows into Bitcoin ETFs particularly indicate a revival in institutional trading.

Experts' market evaluations include remarks from Mudrex CEO Edul Patel, who noted, “The new year has brought strong buying interest in crypto assets like XRP, Chainlink, and Cardano. Bitcoin is also trading close to $95,000. Trump's upcoming inauguration is expected to trigger price movements in the coming weeks.”

The CoinSwitch Markets Desk mentioned that Bitcoin is constrained between $92,300 and $96,000, with waning individual demand in the U.S. raising resistance. The recent drop of the Coinbase (COIN) Premium Index to its lowest level in the past 12 months indicates an increase in selling pressure.

Bitcoin's market dominance is increasing, with its market capitalization rising to $1.89 trillion, while trading volume in the last 24 hours has decreased by 28.5% to $30 billion. The average daily trading volume in the stablecoin market remains around $91 billion, accounting for approximately 92% of the total volume.

Experts generally emphasize that Bitcoin is moving within a narrow range around $95,000, asserting that the $94,000 level is a critical support point. Developments in the market appear to be prompting investors to focus more on market dynamics in the first weeks of the new year.