Bitcoin’s Volatile Week
Bitcoin had a volatile end of the week, reaching a new 13-month high before slipping below $30,000. However, it managed to defend that level.
Main Breakdowns:
- The altcoins, except for a few like SOL, AVAX, LEO, and ARB, remained calmer on a daily scale.
- The weekend was uneventful, with BTC staying just over $30,000.
- On Tuesday, BTC pushed above $31,000 but was rejected.
- On Thursday, the bulls drove bitcoin to $31,500, but it failed to hold and dropped to $29,700 by Friday.
- Bitcoin bounced back and reclaimed the $30,000 level, where it has remained.
Bitcoin’s Market Capitalization and Dominance
Bitcoin’s market capitalization is still at $585 billion, and its dominance over alternative coins is nearly 50%.
Hot Take:
Bitcoin’s volatility continues to keep investors on their toes. Despite its fluctuations, it remains a dominant force in the cryptocurrency market, with a market capitalization that rivals some of the largest companies in the world.
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