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Market Update: Bitcoin back above 100k as Ripple climbs

Yesterday afternoon, on January 6, Bitcoin again broke the $100,000 level and is now up about 9% for the week.

By Mike Hesp
• 1 min read
Market Update: Bitcoin back above 100k as Ripple climbs

Yesterday afternoon, on January 6, Bitcoin again broke the $100,000 level and is now up about 9% for the week. At the time of writing, the leading cryptocurrency is trading at $101,700. Bitcoin's market capitalization stands at $2.01 trillion. This keeps BTC in the top 10 most valuable assets worldwide and sits in the ranking ahead of Saudi Aramco and behind Alphabet (Google).

Among the top 10 most valuable cryptocurrencies, Cardano (29%), Dogecoin (25%), and XRP (20%) are among the biggest gainers. Ethereum is also trading at $3,670, significantly higher than a week ago. The total market capitalization is currently $3.58 trillion. Thanks to the rally, investors are optimistic again. The Fear and Greed Index, which gauges market sentiment, is at 66 points, indicating greed.

One reason for the stronger market phase is demand from institutional investors. After Bitcoin Spot ETFs saw little inflow since Christmas, about $1.8 billion has come in over the last two trading days. ETH index funds have also seen an uptick, though on a smaller scale of nearly $190 million. Should yield-focused investors stick to Bitcoin alone or look to the top 10 cryptocurrencies? We examined historical data dating back to 2020: crypto portfolio or all-in on Bitcoin?

Disclaimer: This content is for informational purposes only and does not constitute financial, investment, legal, or tax advice. The information provided may be incomplete, inaccurate, or outdated and should not be relied upon as such. Nothing on this website should be considered a recommendation to buy, sell, or hold any cryptocurrency. Investing in crypto-assets involves risk of loss.