Top Gaining and Losing Altcoins of the Week as Bitcoin and Ethereum Recover

This week marked a steady recovery for Bitcoin, driven by positive US inflation data and optimistic statements from FED Chairman Jerome Powell.

These developments increased expectations for the FED's first interest rate cut in September. Analysts believe the sharp declines are behind us and anticipate a stable market until September, with potential growth afterward.

The greed index, which was at 80% in previous weeks, dropped to 25 (extreme fear) during this period.

Bitcoin's price increased by 4.6% on a weekly basis, while Ethereum (ETH) showed a more positive trend, rising by 6.4%.

This recovery also impacted altcoins, with some rising and others falling.

According to CoinmarketCap, the top five gainers among the top 100 coins were Mog Coin (MOG), Maker (MKR), AAVE, XRP, and VeChain (VET). The top three losers were Render (RNDR), Akash Network (AKT), and Ethena (ENA).

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