By Shikha Singh
Bitcoin’s price action over the past few days has been turbulent, marked by significant fluctuations. After rallying to an all-time high of $108,000 during Trump’s inauguration, BTC suffered sharp corrections, likely due to the lack of crypto-related mentions in Trump’s speech.
This led to a drop below $100,000 before a slight recovery. As of now, Bitcoin trades at around $102,000, with its market cap still exceeding $2 trillion and maintaining a dominance of over 55%.
Despite recent corrections, there are signs of optimism. Whale activity has intensified, with large investors accumulating over 22,000 BTC worth $2.2 billion in just 72 hours.
This accumulation has reduced sell-side liquidity, potentially setting the stage for another rally. Additionally, network activity has strengthened, supported by an increase in daily active addresses, which analysts suggest could drive further price appreciation.
The altcoin market has also experienced a downturn in the past 24 hours. Ethereum is approaching $3,200 after a 2.6% dip, while other major tokens like Solana, DOGE, and ADA have suffered similar declines.
Chainlink has been the hardest hit among larger-cap alts, dropping by 6% to under $25. Mid-cap alts such as AVAX, SUI, and PEPE have also seen significant losses. The total market capitalization of cryptocurrencies has shed over $100 billion, standing at $3.66 trillion.
Looking ahead, the market’s trajectory could depend on Trump’s stance on crypto. His failure to act on his pro-crypto promises might stall Bitcoin’s momentum, but the combined forces of whale activity and network growth offer a strong foundation for potential recovery.
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