Bitcoin Nears $104.000 as Ethena (ENA) Explodes 20% High

• Bitcoin nears $103.000; high market dominance.
• Altcoins struggle as BTC sets new records.
• Volatility continues to shape the cryptocurrency market.

The cryptocurrency market has seen some remarkable moves over the past week, with Bitcoin reaching a new multi-week high, almost touching the $103.000 mark. Despite a brief pause at this level, the performance stood out compared to altcoins, which faced a less favorable scenario during the same period.

The start of the week was marked by significant volatility for the leading cryptocurrency, which was quoted as high as $94.800. However, investor momentum soon took effect, reversing earlier losses and challenging the six-figure threshold by Thursday. In fact, Bitcoin briefly broke through that barrier, peaking at $102.000 on Saturday and Sunday, before reaching its most recent peak just below $103.200.

At the time of publication, the price of NAME was trading at $102.764, up 1,5% in the last 24 hours. Despite this, the coin’s market cap continued to experience highs, surpassing $2 trillion and reflecting robust financial health.

Bitcoin's dominance over altcoins has increased, evidenced by a jump in the dominance metric to over 53% in the overall market after a brief dip to 52,5% the previous day.

Cryptocurrencies Today

Among the altcoins, some stand out as they attempt to overcome their resistances. Ethereum (ETH) is close to breaking the resistance of $3.920, while Ripple (XRP) is looking to reach a new high of $2,62. Cardano (ADA) is trying to consolidate above $1,10. Ethena (ENA) and Helium (HNT) also registered significant gains, with ENA appreciating almost 20% and HNT around 10% in the last 24 hours.

On the other hand, some cryptocurrencies faced steep losses. Solana Swap (SOS) and Bitget Token (BGB) saw drops of more than 5% in the same period.