Bitcoin Struggles Below $100K as Select Altcoins Surge – Market Watch
Investor Disappointment Following U.S. Crypto Policy Update Weighs on Bitcoin
Bitcoin has once again failed to hold above the critical $100,000 level, dropping to around $98,000 following a highly anticipated press conference by U.S. crypto and AI czar David Sacks. While Bitcoin struggles, a handful of altcoins are defying market trends, posting impressive gains.
Bitcoin Price Dips Below $100K – What Happened?
After briefly reclaiming $100,000, Bitcoin tumbled by 1.4% over the past 24 hours, currently trading below $98,000. The timing of this drop aligns with a press conference by David Sacks, a key figure in President Trump’s administration, who outlined future crypto regulations and government strategies.
Investors had been hoping for confirmation of a Bitcoin-only strategic reserve, but instead, Sacks revealed that the administration is exploring both a single-asset Bitcoin reserve and a broader digital asset stockpile. Additionally, Sacks stated that regulating stablecoins will be the first priority, with legislation expected to pass within six months.
Despite Bitcoin’s price dip, its dominance over the crypto market is at a four-year high, standing at 58%, highlighting its relative strength compared to struggling altcoins.
Altcoins Struggle, but Some Buck the Trend
While Bitcoin’s weekly decline of 4.2% is notable, altcoins have suffered even bigger losses:
- Ethereum (ETH): Down 11%
- XRP: Down 18%
- Solana (SOL): Down 11%
- BNB: Down 14%
- Dogecoin (DOGE): Down 19%
However, a few altcoins have defied the downturn, posting impressive gains:
- TRUMP Token: Up 10% today, bolstered by its association with President Trump’s administration.
- AAVE, ARB, and SUI: Each up 5-6% in daily trading.
- Mantra (OM): Leading the weekly gainers with a 26% increase.
- Hyperliquid (HYPE): Up 13% on the week.
Final Thoughts: Bitcoin Holds Strong Despite Regulatory Uncertainty
While Bitcoin remains under pressure, its market dominance continues to grow, showing resilience in the face of uncertainty. With key regulatory decisions looming and stablecoin laws in development, crypto investors are closely watching the next moves from U.S. policymakers.
For now, Bitcoin’s battle at $100K continues, while a select group of altcoins seizes the spotlight amid market turbulence.
