Bitcoin’s price has slowly recovered and is hovering near $89,000. Earlier in the week it dropped from above $95,000 to below $88,000 because of rising geopolitical tension. Traders then tried to push the price higher. On Friday, Bitcoin rose to around $91,000, but the move did not hold. It quickly fell back to about $89,000, where it spent most of the weekend.
Over Sunday night and into Monday morning, the price dipped further to around $86,000. This was the first time in more than a month that Bitcoin traded at that level. After that, buyers stepped in and helped push the price back up to roughly $88,000.
In the last 24 hours, the mood turned a bit more positive. Bitcoin briefly slipped to about $87,500, then bounced to around $89,500. That made a four-day high, but the price could not break above that level. Today Bitcoin sits near $89,000, which is roughly 1% higher for the day. This move adds to a bigger story: Bitcoin’s market value, or market capitalization, is near $1.780 trillion, and its share of the total crypto market (called dominance) has softened to about 57.3%.
Market data comes from many sources that investors watch. The chart label “BTCUSD Jan 28” shows Bitcoin’s price on January 28. TradingView provides these price charts for traders to study price changes over time.
Now to a rising star in the crypto scene. Hyperliquid’s native token, called HYPE, has become the top gainer for a second straight day. It has added another large jump, rising by about 25% again. After today’s move, HYPE has crossed above $34 for the first time in almost two months. This is notable because it shows how one smaller token can move up quickly even when bigger coins like Bitcoin move more slowly.
Despite Bitcoin’s more modest gains, most larger-cap altcoins — that is, other big cryptocurrencies besides Bitcoin — are in the green. However, their gains are smaller than the surge seen by HYPE. For example, Dogecoin (DOGE), Avalanche (AVAX), and Mantle (MNT) are each up around 3%. Ethereum (ETH), Binance Coin (BNB), and Solana (SOL) have risen by up to about 2.5% in the same period. This shows money is moving around the market, but not all coins move in the same way at the same time.
Overall, the total crypto market cap has increased by more than $50 billion in a day and has climbed back above $3.1 trillion on CoinGecko, often abbreviated as CG. CoinGecko is a popular site that tracks many different crypto prices and market data. In today’s market updates, the big moves in Bitcoin are a key driver, but news about smaller tokens like HYPE can also push the whole market higher when investors get excited.
The market today reflects a mix of momentum in different parts of the space. Some traders are looking for new highs, while others are taking a more cautious approach. The period also shows how much traders react to news, as seen when Bitcoin briefly pushed toward $91,000 but did not keep that climb, and when a niche token like HYPE can surge on market sentiment and trading volume.
For readers who are newer to crypto, here are a few quick explanations of terms you might see in stories like this:
- Market capitalization (market cap): The total value of all the coins that exist for a given crypto. It is calculated by multiplying the price by the number of coins in circulation. Think of it like the total value of all shares of a company. When people say a market cap is “large,” they mean the whole market is big in money terms.
- Dominance: This term describes how much of the total crypto market value is owned by Bitcoin. If Bitcoin has high dominance, it means Bitcoin makes up a large share of the whole market. In this update, Bitcoin’s dominance is about 57.3%.
- Altcoins: Any cryptocurrency other than Bitcoin. The name comes from alternative coins. In this article, big altcoins like Ethereum, Solana, and Avalanche are examples.
- HYPE: The ticker symbol for Hyperliquid’s token. It is smaller than Bitcoin or Ethereum but can move a lot in a short time due to market interest and trading activity.
Here are quick notes on a few terms commonly used in crypto coverage:
- Bitcoin is the first decentralized cryptocurrency. It lets people send money online without banks or central authorities. It uses a technology called a blockchain, which is a public ledger that records all transactions. For more detail, you can read about Bitcoin.
- Ethereum is a blockchain platform that supports smart contracts and decentralized applications. Its native currency is Ether (ETH). For more detail, see Ethereum.
- Solana is a public blockchain that uses a proof-of-stake system and supports smart contracts. Its native token is SOL. Learn more at Solana (blockchain platform).
- Avalanche is another blockchain platform that aims to be fast and scalable. It coordinates three core blockchains for funds, contracts, and network governance. See Avalanche for details.
- Dogecoin started as a joke based on a popular meme but has become a widely traded cryptocurrency. See Dogecoin for more information.
In short, today’s market shows Bitcoin staying in the vicinity of $89,000 after a week of big moves, a strong surge in a smaller token called HYPE, and a broad showing of gains across several large-cap coins. Investors watch these numbers closely as they try to gauge the overall health of the crypto market and decide where to put their money next.