Bitcoin had a calm weekend and continued to move slowly over the last 24 hours. The price rose slightly, reaching $89,000, but faced difficulties breaking through this level. Altcoins, which are other cryptocurrencies different from Bitcoin, stayed mostly quiet. However, a few like UNI, NIGHT, CC, and ICP saw noticeable gains.
Bitcoin Hits $89,000
This past week was expected to have significant price changes in the cryptocurrency market. And it delivered. On Monday, Bitcoin (BTC) dropped sharply from $90,000 to below $86,000 within just a few hours. It managed to recover slightly to $88,000 but then surged up to $90,400 on Wednesday.
However, this increase didn’t last long. BTC soon fell again, reaching below $85,500 shortly after. On Thursday, the United States released its Consumer Price Index (CPI) data for November, which measures the changes in prices for goods and services. The data showed better results than expected. This caused Bitcoin’s price to rise quickly to $89,500. But once again, the price was rejected at this higher level and dropped to a low of $84,500.
By Friday, BTC bounced back and climbed to $89,500 again. Even though it couldn’t sustain above that mark, it has been trading above $88,000 for most of the time since. Earlier today, Bitcoin briefly reached $89,000 again. Currently, its market value is close to $1.77 trillion, and it still dominates over 57% of the total cryptocurrency market.
UNI Gains Big
In the world of larger cryptocurrencies known as large-cap altcoins, the past day has been relatively quiet. Ethereum (ETH), the second-biggest cryptocurrency, is close to reaching $3,000. Binance Coin (BNB) is also nearing $860. Other cryptocurrencies like XRP (XRP), Solana (SOL), Cardano (ADA), and Bitcoin Cash (BCH) didn’t see any major price changes. Some, like Chainlink (LINK), Zcash (ZEC), and Dogecoin (DOGE), experienced slight losses.
Meanwhile, Monero (XMR) and TRON (TRX) saw some small gains of about 2-3%. The most significant gainer among the top 100 cryptocurrencies was NIGHT, which rose over 30% to $0.09. Uniswap’s token, (UNI), also performed well, increasing by 10% and reaching $6.30. Other coins like CC, QNT, and ICP also experienced notable growth.
Altogether, the total value of the cryptocurrency market has grown by about $20 billion overnight. It is now close to $3.1 trillion, according to data from CG.