Bitcoin showed renewed strength earlier today after tapping a 6-day peak above $92,500 before cooling slightly to trade around $92,000. The move reflects a market still searching for momentum after last week’s sharp swings, while select altcoins—most notably Monero—continue to outperform.
Bitcoin Pushes Higher but Faces Resistance
The primary cryptocurrency kicked off the previous business week with strong bullish momentum, building on gains from the weekend. Already back above $90,000, BTC surged to a multi-week high of nearly $95,000 on Tuesday morning. That rally, however, attracted selling pressure, allowing bears to regain control.
By Thursday, bitcoin had dropped below $89,500, shedding more than $5,000 in just 48 hours. The decline was short-lived, as BTC rebounded over the weekend and traded sideways near $90,500 after facing rejection at $92,000 on Friday.
This week began with renewed optimism. Bitcoin challenged the $92,000 level multiple times on Monday and Tuesday but failed to secure a decisive breakout. Earlier today, it made another attempt, briefly touching $92,500 before settling back near $92,000. Despite the hesitation, BTC’s market capitalization has climbed to $1.840 trillion.
Bitcoin’s dominance over the altcoin market is also strengthening. According to CoinGecko, BTC dominance has risen to 57.1%, up from 56.6% just a few days ago, signaling that capital continues to favor the leading cryptocurrency.
Monero Steals the Spotlight
While bitcoin consolidates, Monero (XMR) has firmly taken center stage. Over the past few days, XMR has surged by 17% daily and an impressive 50% on a weekly basis. Earlier today, it printed yet another all-time high at $686, solidifying its position as the largest privacy-focused token after surpassing ZEC.
Other notable gainers include MYX and IP, both posting double-digit increases. NEAR, AAVE, CC, and ICP have also moved higher, while BCH and LTC remain slightly in the red.
Large-Cap Altcoins Show Stability
Compared to smaller tokens, larger-cap altcoins have experienced relatively modest price action. Ethereum has reclaimed the $3,100 level, BNB briefly tapped $910, and assets such as XRP, SOL, DOGE, and TRX have posted minor daily gains, reflecting a calmer but constructive market environment.
Crypto Market Cap Expands
Overall sentiment remains positive across the digital asset space. The total cryptocurrency market capitalization has increased by $40 billion over the past day, reaching $3.220 trillion on CoinGecko.
As bitcoin continues to test key resistance near $92,000 and Monero extends its historic rally, traders are watching closely to see whether the broader market will follow with a decisive breakout or remain in consolidation mode.