Bitcoin has seen a gradual increase over the past 24 hours, as its price managed to surpass the $105,000 level, briefly touching $106,000 before retreating back to its current levels above $105,000.
At the beginning of the week, Bitcoin's price attempted to break out of the price range but faced resistance at $106,000 and $106,500.
As a result of repeated rejections, the price has fallen to its lowest levels in weeks, with the currency priced at $100,400 on the Bitstamp platform.
It is believed that the political tension between Donald Trump and Elon Musk contributed to the severity of this decline.
However, the price of Bitcoin has risen again and is approaching $105,000 on Friday afternoon, before the currency experiences further fluctuations and is currently trading near $105,500.
The market capitalization of Bitcoin is currently estimated at $2.1 trillion, with a dominance of 61.5% in the cryptocurrency market.
Movements of alternative currencies:
Throughout the week, the cryptocurrency HYPE topped the list of winning cryptocurrencies with a rise of 9%, surpassing $35.
It was followed by ICP with an 8% increase, then LEO, TRX, and AAVE with relatively smaller gains.
In contrast, the cryptocurrency TAO was the biggest loser with a decline of 11%, followed by GT with a decrease of (-5.3%) and CRO with (-5.2%).
SOL, DOGE, ADA, AVAX, and SHIB also recorded negative performance and are approaching a weekly red close.
Overall, the total market capitalization of cryptocurrencies increased by about $30 billion in the past 24 hours, reaching $3.41 trillion according to the CG platform index.
