Bitcoin Heads for $95K as ADA, XLM, XRP Gain Ground

• Bitcoin stable between $94.000 and $95.000.
• XRP, ADA, and XLM stand out with significant gains.
• SUI faces decline while other altcoins see mixed performance.

Over the past weekend, Bitcoin (BTC) remained stable, fluctuating between $94.000 and $95.000, without showing any significant movements. In contrast, altcoins such as XRP, ADA and XLM stood out with notable increases in value, contrasting with the fall of SUI.

At the time of publication, the price of BTC was quoted at US$ 94.626,50 with an increase of 0,5% in the last 24 hours and a decrease of 3% in the week.

BTC Maintains Stability After Volatile Week

After a week of intense volatility, in which Bitcoin surpassed $102.000 on Tuesday, there was a sharp drop that almost took it below $92.000, after rumors that the Joe Biden administration would be pressing the United States Department of Justice (DOJ) to sell the country's bitcoin reserves. Similarly, US labor market data also put downward pressure on the price of bitcoin.

After a dip to near $91.000, the market’s leading cryptocurrency found momentary stability. The bulls’ defense kept BTC around $94.000, registering a brief rally to $95.000. However, the subsequent rejection did not stop the cryptocurrency from holding steady, concluding the weekend with a market cap of $1,865 trillion, according to data from CG.

Altcoins on the Rise: ADA, XLM and XRP

While Bitcoin was calm, the altcoin market was on fire. XRP, known as Ripple’s cross-border token, saw a significant surge, rising from $2,33 to $2,60 before correcting to $2,52. ADA, Cardano’s token, also performed impressively, rising nearly 10% to reach the resistance level of $1,04. XLM followed suit, rising more than 8% to trade at around $0,45.

On the other hand, SUI faced a drop of over 3% to $4,82, while other cryptos such as TRX, SHIB, and BNB recorded slight declines. In contrast, ETH, SOL, DOGE, AVAX, TON, LINK, HBAR, and DOT managed to register modest gains.