$BTC

The price of Bitcoin is testing the level of $98,000, and its dominance over alternative currencies remains high.

The price of Bitcoin stopped at the level of $98,000, after a gradual increase over the past few days that peaked yesterday, without the currency's price succeeding in surpassing the barrier of $100,000.

Despite the slight decline, Bitcoin's dominance over the alternative currency market continues to rise.

At the beginning of last week, the price of Bitcoin rose from $84,000 to over $90,000 in just 36 hours, driven by a wave of optimism that later pushed it to $96,000 on April 25, its highest level in the past two months.

However, it faced strong resistance at this level, leading to a consolidation phase in a range between $93,000 and $95,000.

On Thursday, Bitcoin's price broke through and tested the level of $98,000, but the currency's price quickly lost momentum to retreat to just above $96,000.

Nonetheless, Bitcoin retains a market value exceeding $1.910 trillion on the “CoinGecko” platform, while its dominance in the market has risen to about 62%, reaching 64% on some other platforms, the highest level in four years.

As for alternative currencies, they recorded limited losses, with ETH, XRP, DOGE, SOL, ADA, SUI, LINK, and XLM declining slightly, while the largest losses were for AVAX and PEPE, each nearly 3%.