At a Glance
- Bitcoin falls from $95,000 to $88,000 amid tariff talks.
- Altcoins rally: ETH hits $3,000, XRP nears $2.00.
- Market cap rebounds to $3.135 trillion.
- Why it matters: Traders face sudden price swings as geopolitical news shifts sentiment.
Bitcoin’s price wavered dramatically over the past week, swinging from a high of $95,000 after a weekend rally to a low of $88,000 before stabilizing near $90,000. The move followed a series of U.S.-EU diplomatic exchanges over tariffs linked to the Greenland dispute. Meanwhile, many altcoins climbed, with Ethereum touching $3,000 and XRP approaching $2.00.
Geopolitical Tension Drives Bitcoin Volatility
The U.S. President announced new tariffs on several EU countries after a diplomatic dispute over Greenland. In response, the EU threatened a “trade bazooka” ahead of the World Economic Forum in Davos, Switzerland. The president’s speech emphasized the importance of Greenland but clarified that force would not be used. Denmark declined to join the president’s board, and negotiations were set to begin.
These events caused Bitcoin to:
| Event | Bitcoin Price | Market Cap | Dominance |
|---|---|---|---|
| Weekend rally | $95,000 | – | – |
| Peak after tariffs | $98,000 | – | – |
| Low after tensions | $88,000 | $1.8 trillion | 57.4 % |
| Current | $90,000 | – | – |
The volatility illustrates how quickly geopolitical developments can impact market sentiment.
Altcoin Rally Highlights Market Resilience
Despite Bitcoin’s turbulence, most altcoins remained in the green on a daily scale. Key performers include:
- Ethereum – $3,000
- XRP – $1.99
- Canton (CC) – up 10% at the time of writing, with a 70% increase over the past month and 13% in the last week.
- RAIN – 13% gain
- MYX – 10% gain
- XMR – 5% jump to $510
- HYPE – 5% jump to $22
- BNB – near $900
Canton’s 10% rise marks it as one of the best performers today. LunarCrush reports that the protocol accounts for 45% of mindshare, driving engagement across social media.
Market Cap Recovery and Dominance
The total crypto market cap recovered around $100 billion since yesterday’s low and is now $3.135 trillion on CoinGecko. Bitcoin’s dominance over altcoins sits at 57.4 %, indicating that a sizable portion of market activity remains concentrated in the primary cryptocurrency.
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Key Takeaways
- Bitcoin’s price is highly sensitive to U.S.-EU diplomatic actions.
- Altcoins can provide resilience during primary market swings.
- Market cap has rebounded, but dominance remains high.
- Exclusive rewards are available for News Of Los Angeles readers.
