Bitcoin is having a quiet weekend after recent volatility, with its price currently hovering just above $98,000. Other altcoins are also generally holding steady, but some, such as ADA, Dogecoin, and AVAX, are making significant gains on a weekly basis. Bitcoin had a bad start to the week, falling to $91,300, its monthly low. However, as the correction continues, the bulls have stepped in and Bitcoin has started to recover. The price has remained in a relatively narrow range throughout the weekend, moving just above $98,000. Other altcoins, such as Ethereum, Ripple, Cardano, and Dogecoin, have also seen gains on a weekly basis. Here are the latest developments in the market…
Bitcoin Calms Down: At $98,000
Bitcoin is having a calm weekend after recent volatility, and is currently trading just above $98,000. While altcoins are mostly stable today, some coins like ADA, DOGE, and AVAX have made big gains on a weekly basis. Bitcoin had a rough start last week. After struggling to stay above $94,000 throughout the previous weekend, Bitcoin lost that level and fell sharply on Monday. During that time, the cryptocurrency lost about $3,000 to reach its monthly low of $91,300. Many analysts predicted that the correction would continue and that Bitcoin could fall below $90,000. However, the bulls intervened and prevented the price from falling further. Bitcoin started to gain value and experienced significant volatility. It rose to $99,000 on Friday, but paused there and retreated slightly. Bitcoin, which remained in a relatively tight range over the weekend, is currently trading a few hundred dollars above $98,000, up 3.3% on the week. While its market cap has risen to $1.950 trillion, according to CoinGecko data, Bitcoin’s dominance over altcoins has decreased by more than 1% in the past week, to 53.1%.
Weekly Gains in Altcoins
Altcoins are generally in the green on a weekly basis. Ethereum has gained more than 6% to reach above $3,600. Ripple, on the other hand, is trading around $2.4, up 9% on the week. Cardano and Dogecoin made the biggest gains among large-cap altcoins. Both assets rose by double digits, with Cardano leading the way with a 22% increase, while Dogecoin also made a significant gain. Other notable gainers include SUI, XLM, and AVAX, which saw new all-time highs. In contrast, TON and BNB are down slightly on a weekly basis. The crypto market cap has made a significant recovery to $3.660 trillion, despite falling below $3.4 trillion earlier this week. Take a look at the other coins that rose on a daily basis in the table below:
