Bitcoin Consolidates around $69K
Over the weekend, bitcoin’s price remained stagnant around the $69,300 mark, failing to show any significant movements. However, the situation is quite different for altcoins, many of which are experiencing declines both daily and weekly.
Bitcoin’s Business Week Highlights
- Bitcoin saw positive movements throughout the business week.
- Starting the week at $67,500, BTC quickly climbed and surpassed $70,000 by the end of the day.
- The bullish momentum continued, pushing the price to $71,500 on Wednesday and $72,000 on Friday.
- However, a bearish sentiment kicked in, causing a sharp drop to $68,500.
- Despite a minor bounce to over $69,000, bitcoin’s price remains sluggish around $69,300.
Altcoins in the Red
With Bitcoin’s dominance rising, many altcoins have retraced in the past 24 hours. Several notable altcoins, including Toncoin, SOL, XRP, DOGE, SHIB, AVAX, DOR, BCH, and NEAR, have seen significant losses.
Even meme coins like PEPE and WIF have experienced notable declines.
Weekly Performance Snapshot
- BNB surged to a new all-time high above $715 and is up by 12% for the week.
- TON has also seen a 9% increase.
- On the other hand, SHIB, DOGE, AVAX, LINK, DOT, and NEAR are all deep in the red, with losses ranging from 8% to 13%.
- Top gainers for the week include BRETT (60%), ORDI (22%), and STX (23%).
- Biggest losers include BEAM, TIA, and LDO, all down by 20% or more.
Total Crypto Market Cap Update
The overall cryptocurrency market cap has dipped by 0.6% in the past day, currently standing at $2.670 trillion.
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
