Bitcoin (BTC) has stabilized at the $98,000 level after the intense fluctuations last week, while the altcoin market is quietly rising, with some assets experiencing significant gains this week, particularly ADA, DOGE, and AVAX, which have become the brightest stars of the week.

BTC stabilizes at $98,000, and market sentiment is warming up.

  • This week's trend: After struggling to hold $94,000 over the weekend, BTC fell sharply on Monday, reaching a monthly low of $91,300. This pullback caused panic in the market, with some investors even anticipating a price drop below $90,000.

  • Bullish efforts: Bulls are fiercely resisting at key support levels, which not only prevented further declines but also pushed BTC to recover in the following days. On Friday, Bitcoin briefly touched $99,000 but failed to break through this key resistance level, retreating to the current level of around $98,000.

  • Current market capitalization and dominance: BTC's market cap is now close to $1.95 trillion, but its market dominance has dropped to 53.1%, indicating that altcoins are performing more prominently.

Altcoins are fully recovering; who is the biggest winner this week?

This week, mainstream altcoins have seen significant rebounds, with some performing exceptionally well:

1. Cardano (ADA): This week's champion in growth.

  • Growth: ADA rose 22% this week, making it one of the assets with the highest weekly growth.

  • Reason: Recent ecosystem updates and network upgrades may have boosted investor confidence.

2. Dogecoin (DOGE): Strong performance.

  • Growth: DOGE also recorded double-digit growth, with market sentiment warming up, bringing it back into investors' sight.

  • Hotspot: The newly added payment and integration solutions in its ecosystem may have provided a catalyst for this rise.

3. Avalanche (AVAX): New highs again.

  • Performance: AVAX had a remarkable performance this week, reaching a historic high and attracting significant attention.

4. Ripple (XRP): Steady recovery.

  • Growth: XRP rose 9% this week, with prices approaching $2.4. The market's confidence has been restored following the SEC case, driving its price further up.

5. SUI and XLM: New highs debut.

  • SUI and XLM both recorded strong performances, achieving historic price breakthroughs.

Assets with slightly weaker performance.

  • TON and BNB performed below expectations this week, with slight weekly declines, possibly due to short-term selling pressure.

Overview: Total market cap is steadily recovering.

After briefly falling below $3.4 trillion at the beginning of the week, the total global cryptocurrency market cap has now rebounded to $3.66 trillion, showing that market sentiment is recovering.

Ethereum (ETH) also recorded over 6% weekly growth, with prices returning above $3,600. Its solid performance once again reinforces market trust in mainstream assets.

Observation and Outlook

  • Bitcoin: The current stability is crucial for market sentiment, but its resistance level of $99,000 and support level of $90,000 will determine the subsequent trend. If it breaks through the psychological barrier of $100,000, the market may welcome a new bullish trend.

  • Altcoins: Funds are flowing from Bitcoin into the altcoin market, and investors need to closely monitor the trend of capital rotation, as well as the fundamental drivers of each asset.

What are your thoughts? Will the strong rise of ADA drive other altcoins to further recover? Feel free to share your views.
#比特币走势观察 #BTC #ADA #xrp #sui $AVAX $DOGE $XLM