The cryptocurrency sector's valuation on Thursday reached $3.67 trillion, reflecting a 2.34% increase within the day's time frame. Bitcoin price finally crossed the $100,000 milestone after President Trump officially nominated Pure Atkins to replace Gary Gensler. In the derivatives market, 167,262 traders were liquidated, with bulls accounting for 52% of the total liquidation of $564.27 million.
Altcoin Market Latest: Dogecoin, Bitcoin Cash, Litecoin as BTC Bullish Mood Spreads Across Proof-of-Work Sector
Bitcoin prices rise as investors react favorably to the news that Trump has nominated Paul Atkins, who is seen as a crypto-friendly candidate, to replace Gary Gensler as Securities and Exchange Commission (SEC) commissioner. passed the $100,000 milestone on December 4th. BTC's impressive record has sparked mixed reactions within the altcoin market.
Ripple (XRP), Avalanche (AVAX), Tron (TRX) and others have retreated from their peaks on the monthly time frame, but prominent coins within the proof-of-work sector have mirrored BTC's rise, posting double-digit gains. was recorded.
The price of Litecoin has increased by 12% due to the rise in Bitcoin.
Litecoin (LTC), which was founded in 2014 as a more efficient alternative payment network, rose 12% on Thursday after the price of Bitcoin breached the $100,000 mark.
Bitcoin Cash (BCH) price reaches 5-month high
Bitcoin Cash also mirrored LTC’s performance, rising 11% on the day and breaking above the $615 area for the first time since July 2024, according to data from Coinmarketcap.
Dogecoin price exceeds SHIB and PEPE
Dogecoin (DOGE), the largest meme coin validated by the Proof-of-Work (PoW) consensus, also posted a blistering 7% rally, regaining the $0.45 level after a low start to the week. Ta.
This puts DOGE ahead of Shiba Inu and PEPE, highlighting the bullish impact of Bitcoin’s record rally in the PoW sector.
Chart of the day: BTC exceeds $100,000, altcoins will rise further
Bitcoin dominated media headlines around the world on Thursday, rising to an all-time high of $104,100 on Thursday after weeks of consolidating below $100,000.
However, broader market data shows that altcoins offer more profitable opportunities than the Pioneer cryptocurrency.
To support this stance, the Altcoin Seasonal Index chart below tracks the performance of the top 50 altcoins relative to Bitcoin over a 90-day period.
Typically, investors declare the start of an “altcoin season” where 75% of the top 50 altcoins outperform BTC.
Altcoin Season Index, December 5, 2025 |Source: BlockchainCenter
The graph above shows that as of December 5th, 86% of the top 50 ranked altcoins have outperformed BTC over the past 90 days.
This shows that even though Bitcoin dominates mainstream media discourse, crypto investors are primarily acquiring altcoins.
With current market dynamics, every 1% increase in Bitcoin price has a larger bullish impact on major altcoins.
This explains why Ripple (XRP), Solana (SOL), SUI, and others have hit new all-time highs in recent weeks.
Latest crypto news:
Financial Times apologizes for negative coverage of Bitcoin after $100,000 rise
FT Alphaville, the opinion arm of the Financial Times, known for its critical stance on Bitcoin, issued an unusual public apology after Bitcoin's recent spike above $100,000.
For years, the magazine's reporting has portrayed Bitcoin as inefficient and devoid of intrinsic value, a view that resonates with cautious investors but has drawn growing criticism from crypto enthusiasts. There is.
In reaction to Bitcoin's latest milestone, the FT acknowledged the growing backlash from its readers, many of whom believed the magazine's skeptical stance had deterred them from riding Bitcoin's historic rally. I feel that it is.
Despite the apology, the editorial team stood by the rigor of their analysis of previous articles, emphasizing that their views were rooted in concerns about Bitcoin's volatility, energy consumption, and long-term viability.
However, they expressed regret that their reporting may have unintendedly influenced the financial decisions of their readers, especially those who were on the sidelines during Bitcoin's surge.
Going forward, FTAlphaville has committed to providing a more balanced perspective on cryptocurrencies, reflecting both the risks and opportunities of this rapidly evolving asset class.
Chinese tech giant Meitu sells all Bitcoin and Ethereum holdings ahead of $100,000 BTC milestone
According to a recent statement, Chinese tech company Meitu sold 940 Bitcoin and 31,000 Ethereum and exited the crypto market completely, just before Bitcoin soared past the $100,000 milestone. did.
The company initially invested $100 million in March and April 2021, allocating $49.5 million to Bitcoin and $50.5 million to Ethereum.
The exit occurred in two phases and generated total proceeds of $180 million.
Meitu sold half of its holdings in November for $80 million, followed by the sale of 470 BTC for over $95,000 and 15,703 ETH for $3,500 in December, securing a net profit of approximately $80 million.
Meitu now plans to shift its focus from digital assets to its core business of photo, video and design applications, which are experiencing significant growth due to advances in AI.
With this strategic shift, Meitu is abandoning its previously volatile foray into the crypto market and aims to capitalize on the surging demand for AI-powered media tools.
US Federal Reserve Chairman Jerome Powell: Bitcoin competes with gold, not the US dollar
Federal Reserve Chairman Jerome Powell has made his position on Bitcoin clear, saying the cryptocurrency is more like gold than a competitor to the United States. dollar.
Speaking at the New York Times' Dealbook Summit, Powell described bitcoin as a speculative asset, highlighting its volatility and limited use as a payment method or store of value.
“People are using Bitcoin as a speculative asset. It’s like gold. Just like gold, just virtual, digital. People are using it as a means of payment and a We don't use it as a storage medium. It's very volatile. It's not a competitor to the dollar. It's a real contender for the gold medal.”
– U.S. Federal Reserve Chairman Jerome Powell.
Chairman Powell also addressed the Fed's cautious stance on cryptocurrencies, noting that while the Fed monitors the impact of cryptocurrencies on the financial system, it does not directly regulate them.
Powell shifted his focus to monetary policy, highlighting the resilience of the U.S. economy, citing better-than-expected growth and a strong labor market.
However, he indicated that the Fed would take a cautious approach to lowering rates as inflation remains high.
According to CME Group's Fed Watch tool, market participants are pricing in an additional 25 basis points of easing at the next FOMC meeting, scheduled for December 18, reflecting Chairman Powell's cautious macroeconomic outlook.
The move follows a similar transfer in August, when the government sent 10,000 BTC worth $600 million to Coinbase.
The recent trade sparked market speculation as Bitcoin price fell below $95,000 following this news.
