Bitcoin (BTC) experienced a rollercoaster week, with a sudden drop to a weekly low near $66,650 followed by a significant recovery of around $1,000. In contrast, altcoins, particularly Ethereum (ETH), displayed more stable behavior, with a slight 1% increase and nearing the $3,800 mark.
The week started on a bullish note for Bitcoin as the cryptocurrency’s value surged from under $69,000 to a weekly peak above $70,500. This initial optimism hinted at a potential approach to the all-time high of $73,800. However, on Tuesday, the market took a different turn, causing Bitcoin to plummet by over $3,000.
Subsequent days were marked by volatility, but the price of Bitcoin stabilized within the $67,000 to $69,000 range. An attempt to break the upper limit of this range on Thursday was swiftly rejected, resulting in a sharp drop to $66,600, the lowest point of the week.
Fortunately, investors prevented further price declines and the bulls resurfaced. As a result, BTC experienced an increase of approximately $1,000, currently fluctuating between $67,500 and $68,000.
Meanwhile, Ethereum demonstrated its resilience, approaching the $3,800 mark despite minor fluctuations over the weekend. Other cryptocurrencies such as Binance Coin (BNB), Solana (SOL), Ripple (XRP), Cardano (ADA), and Polkadot (DOT) recorded marginal gains. Chainlink (LINK) and PEPE also saw a 4% increase in just one day.
In contrast, Shiba Inu (SHIB) and Uniswap (UNI) experienced declines of nearly 2% and 5% respectively, with UNI falling below $10.
Disclaimer: The opinions expressed in this article, whether by the author or anyone mentioned, are solely for informational purposes and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of potential financial loss.
Editor’s Choice: Bitcoin remains around the $69 mark, while UNI and PEPE lead the gains among altcoins. Ethereum advances to $4, while PEPE sets a new record.