Bitcoin had a controversial week in terms of price movements, as it slumped to a ten-day low and jumped by nearly five grand a day later but failed to sustain its momentum.
The altcoins also suffered on a weekly basis, but most have turned green after yesterday’s retracements.
The volatile week began on Monday after BTC failed to overcome $71,000 on Sunday, which resulted in a price drop of two grand. After it bounced off to $70,000 once more on Tuesday, the bears initiated another leg down, which resulted in a more violent price drop to $66,000.
They kept the pressure piling in the following hours and pushed Bitcoin to a ten-day low of around $64,500. This came amid reports that the US government had transferred 2,000 BTC to Coinbase. The stash was confiscated from Silk Road, and the fears about the sale propelled a notable price decline.
Nevertheless, Bitcoin reacted well after this crash and surged by almost five grand a day later to just over $69,000. That was short-lived, though, as the asset fell to $66,000 yesterday.
Currently, BTC stands close to around $68,000 after the bulls took charge once again. Its market cap has gone up to $1.340 trillion, while its dominance over the alts stands tall at 50.3%.
BTCUSD. Source: TradingView
Most altcoins fell in the past few days but have turned green now, with minor gains. ETH, BNB, SOL, XRP, ADA, SHIB, and DOT have all increased by somewhere between 1-2% in the past day.
More impressive price jumps are evident from TON and AVAX. Toncoin has jumped by 4% and trades well above $5.3, while AVAX is up by 2.7% and sits north of $46.
Dogecoin is the most notable gainer from the larger-cap alts. DOGE has jumped by 5% and has reclaimed the $0.18 level. NEAR and STX are the other alts with gains worth mentioning of 5-6%.
The total crypto market cap has increased by about $30 billion since yesterday and is up to $2.665 trillion on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto
The post Bitcoin (BTC) Challenges $68K, Dogecoin (DOGE) Soars 5% Daily (Weekend Watch) appeared first on CryptoPotato.
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