Ah, the price of Bitcoin. Yesterday it plummeted dramatically after being rudely rejected at the sacred 113,000 USD mark, plunging more than two thousand dollars into the abyss. But as the ink dries on this tale, behold! The bulls, with their unwavering optimism (and possibly a touch of delusion), are once again charging forward.
While most of the big-league altcoins remain in a perpetual snooze mode, like those poor souls stuck in traffic on their way to the office, many of the mid-sized and smaller tokens are off to the races, experiencing a rally that would make a racehorse jealous.
Bitcoin Sets Its Sights on the Illusive 113,000 USD
The king of cryptocurrencies found itself trapped in a swirling storm of selling pressure near the fabled 113,000 USD barrier in recent days. Recall, dear reader, that last Friday, following the release of the latest employment report in the good ol’ US of A, Bitcoin soared to this very level-indeed, it even briefly surpassed it. But, as the sun sets on every bull’s dream, the mighty Bitcoin was met with swift rejection, falling over three thousand dollars in less than one hour, as if it had tripped over its own ego.
After a few days of rest and recovery at around 110,500 USD, the bulls-like a person finally waking up from a nap-decided it was time for another round of action. First, on Monday, and then more impressively on Tuesday, they pushed Bitcoin up to 113,200 USD. And yet, the bears, that eternal party pooper, reasserted their dominance and shoved the digital asset back down. Rinse and repeat, dear friends. By the time the digital clock struck 110,800 USD on Bitstamp, the bulls were back at it, preparing to mount another attack.
By Wednesday morning, Bitcoin was on the rise again, almost back to the sacred 113,000 USD mark as this article was being penned. Ah, the thrill of the chase! In the world of cryptocurrencies, one can never have enough drama.
As of now, Bitcoin’s market capitalization has dipped just under 2.25 trillion USD, while its dominance over altcoins stands at a mighty 56.1%. Keep holding those breath mints, folks-this market is still far from subtle.
The Altcoin Surge That No One Expected
While the larger altcoins remained somewhat subdued in the past 24 hours, unable to muster the gusto for a meaningful move, some smaller tokens have experienced a growth spurt like a teenager hitting puberty. Bitcoin Hyper (HYPE) led the charge, soaring by a stunning 33%, crossing the 0.037 USD mark with the flair of a showman at a circus.
Other tokens, such as IP (+21%), PUMP (+14%), and MNT (+12.5%), also managed to squeeze into the club of double-digit gains. The world of crypto is nothing if not full of surprises, my friends.
The overall cryptocurrency market capitalization has held steady at around 4 trillion USD according to CoinGecko-much like a rollercoaster waiting for its next drop.
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2025-09-12 17:40