Bitcoin (BTC) Crosses USD 99,000, Claims New All-Time High

According to CoinGecko, crypto now has a market cap of USD 3.4 trillion, surpassing France's GDP of USD 3.17 trillion. It surged by a 4.8 per cent change in the last 24 hours.

Bitcoin price soared past USD 98,000 during early hours of Friday, to claim a new all-time high. At the time of publishing, Bitcoin (BTC) was valued at USD 98,770.43, just a few hundred dollars shy of the round figure.

According to CoinGecko, the total crypto market cap now stands at USD 3.4 trillion, surpassing France's GDP of USD 3.17 trillion. It also surged by 4.8 per cent in the last 24 hours.

In nearly 24 hours, BTC has climbed from over USD 95,000 to USD 99,000, soaring three per cent. Ethereum (ETH) and Solana (SOL) gained 9 per cent and 11.4 per cent, respectively, while Tether (USDT) remained flat.

The rally, following Trump's win, can be attributed to several factors including the launch of spot Bitcoin ETF options, Trump's media company filing for a trademark for a crypto payments service, and MicroStrategy's Michael Saylor planning to pitch BTC to Microsoft.

"BTC now faces critical resistance at USD 99,950 before breaking into the six-figure territory, with strong support holding at USD 95,000," said Edul Patel, co-founder and CEO, Mudrex.

Apart from Bitcoin, altcoins such as Dogecoin, USD Coin, Cardano, Wrapped Bitcoin, Cronos, Monero, Floki Inu, Underdog, Iota, Braintrust, and Binance USD also saw a price surge in the one-day change.

According to Patel, while BTC is rallying, the overall dominance has dipped with altcoins like Ethereum, Doge, Solana and XRP jumping upto 25 per cent in a day.