Bitcoin Holds Steady at $37,000
Bitcoin experienced a week of significant volatility, ultimately stabilizing around $37,000. However, the same cannot be said for several larger-cap altcoins, such as Solana, Shiba Inu, Tron, Dogecoin, and Avalanche.
BTC Stalls at $37K
The week began with BTC slipping below $35,000 due to lower trading volumes. However, things turned around on Tuesday when the bulls propelled the cryptocurrency to almost $36,000. Although it initially failed to surpass that level and fell back to $35,200, it surged on Thursday to reach an 18-month peak at $38,000 before dropping back down to under $36,000. BTC currently sits at around $37,000 after a slow 12 hours with a market capitalization above $720 billion and dominance over altcoins close to 51.5% on CMC.
FTT Skyrockets Amid Restart Rumors
Ethereum performed well as BlackRock registered a trademark in Delaware potentially filing for an ETH ETF in the U.S., causing the second-largest digital asset to reach a 7-month high at over $2,100 before falling slightly below that mark. BNB also experienced a similar decline. XRP, LINK, ADA, and LINK saw minor gains while Solana, Dogecoin, Tron, Polkadot, Shiba Inu, and Avalanche surged by impressive percentages. FTT was today’s top performer with a 45% daily and 250% weekly increase amid rumors of a potential exchange revival.
The total crypto market cap has surpassed $1.4 trillion amid recent price rallies.
Hot Take: Bitcoin Remains Stable While Altcoins Surge
Despite Bitcoin’s stability around $37,000 after a volatile week of trading, several larger-cap altcoins have seen significant surges in value. Ethereum’s performance has been notable as well due to potential ETF filings in the U.S., while FTT stands out as today’s top performer amid rumors of an exchange revival.
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