Bitcoin Reclaims $111K as Avalanche and Bitcoin Cash Outperform

Bitcoin continued its recovery this week, pushing back above $111,000 after dipping to two-month lows near $107,000. The move stabilizes the market following sharp volatility in late August and keeps the leading cryptocurrency within striking distance of recent highs.

Bitcoin Steadies Above Key Level

BTC briefly touched $111,800 earlier today before retracing slightly, maintaining support just above $111,000. This rebound follows a 15% drop from the $125,000 peak, driven by profit-taking and shifting market sentiment. Despite recent challenges, Bitcoin’s market capitalization has climbed to $2.21 trillion, with dominance over altcoins holding firm at 56.5%.

Altcoins Mixed, AVAX and BCH Shine

The broader altcoin market showed sluggish movement on the daily timeframe. Ethereum struggled to remain above $4,300 after failing to break resistance at $4,500. Other major tokens, including BNB, TRX, LINK, and HYPE, saw minor declines.

In contrast, Avalanche (AVAX) and Bitcoin Cash (BCH) stood out, both posting daily gains of around 5%. AVAX rose to $25 while BCH climbed to $600, securing their positions as top performers among large-cap altcoins. Solana also advanced 3% to trade near $210, while DOGE, ADA, and SUI posted smaller increases.

MemeCore Leads With Double-Digit Rally

The standout gainer was MemeCore (MEME), which soared 14% to $0.95. Other mid-cap tokens like BGB and ONDO followed with smaller upward moves.

Market Outlook

The total cryptocurrency market cap held above $3.9 trillion after a modest daily increase, showing resilience despite uneven performance among major tokens. With Bitcoin defending the $111K level and select altcoins gaining traction, the market remains positioned for further consolidation before another potential breakout.