Bitcoin Finds Stability at $98,000, Altcoins See Massive Weekly Recoveries

After a rollercoaster ride, Bitcoin has finally found some stability, with its price hovering just above $98,000. Meanwhile, many altcoins are experiencing a significant rebound, with some notable players like ADA, DOGE, and AVAX leading the charge.

A Turbulent Week for Bitcoin

The past week was a wild ride for Bitcoin. After struggling to stay above $94,000, the cryptocurrency took a hard hit on Monday, plummeting to a monthly low of $91,300. However, the bulls quickly intervened, preventing further decline and sparking a substantial recovery. By Friday, Bitcoin had surged to $99,000, only to be pushed back to $98,000. Despite the fluctuations, Bitcoin has managed to gain 3.3% on a weekly scale.

Market Capitalization and Dominance

Bitcoin’s market capitalization has risen to nearly $1.950 trillion, while its dominance over altcoins has decreased by over 1% in a week to 53.1%. This shift in dominance has paved the way for altcoins to make a comeback.

Altcoins See Significant Weekly Gains

Most altcoins are experiencing a significant rebound, with Ethereum regaining over 6% of its value and sitting above $3,600. Ripple’s native token has surged 9% to around $2.4. However, the biggest gainers are Cardano and Dogecoin, both of which have seen double-digit increases. Cardano leads the way with a 22% surge, followed closely by Dogecoin.

Other Notable Gainers and Losers

Other notable gainers include SUI, which has registered a new all-time high, XLM, and AVAX. On the other hand, TON and BNB are slightly in the red on a weekly scale.

Total Crypto Market Cap Sees a Jump

The total crypto market cap has jumped to $3.660 trillion, after bottoming at under $3.4 trillion earlier this week. This surge is a testament to the resilience of the cryptocurrency market.

What’s Next?

As the cryptocurrency market continues to evolve, it’s essential to stay informed and adapt to the changing landscape. With Bitcoin finding stability and altcoins experiencing significant gains, it’s an exciting time for investors and enthusiasts alike.

Share Your Thoughts

What do you think is driving the current market trends? Share your insights and predictions in the comments below.

Disclaimer

The information provided is for general knowledge purposes only and should not be considered as investment advice. Always conduct your own research before making any investment decisions.

Source: Cryptopotato.com

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