After a period of high volatility, Bitcoin experienced a moment of stability over the weekend, maintaining a value above $98,000. As of now, the price of BTC stands at $97,856.72, representing a 0.1% increase in the last 24 hours.
Meanwhile, other cryptocurrencies, known as altcoins, such as ADA, DOGE, and AVAX, have displayed a more stable performance despite the turbulence witnessed in the previous week.
At the start of the week, Bitcoin faced a less promising situation as it struggled to maintain its position above the $94,000 mark. With significant resistance lost, the cryptocurrency witnessed a sharp decline, reaching a low of $91,300, the lowest value recorded for the month. This downward movement led many to speculate the possibility of a further drop below $90,000.
Contrary to expectations, the Bitcoin market demonstrated resilience. “Many anticipated that the correction would persist and push BTC below $90,000, but the bulls intercepted the movement and prevented another setback,” experts suggest. With a notable recovery, the value of Bitcoin reached $99,000 on Friday but encountered new resistance that pushed it back into the $98,000 range.
Throughout the weekend, Bitcoin remained within a relatively narrow price range, concluding the period with a 3.3% weekly increase. This performance not only signifies the recovery of Bitcoin itself but also indicates a trend of stability in the overall cryptocurrency market.