As it happened during the past few weekends, bitcoin’s price volatility has essentially disappeared once Saturday and Sunday come, with the asset remaining stuck at $63,000 for roughly 36 hours now.
Most altcoins have performed similarly, which is why we will focus on their weekly moves. Some of the major gainers here are XMR, LINK, WLD, and WLFI.
BTC Stuck at $63K
As mentioned above, the previous weekend was also dull in terms of price action. However, it was more positive as the primary cryptocurrency had shrugged off the weekly losses and stood at around $65,000. The tides turned on Monday morning when it tried to break out, but it was halted at $65,400.
The subsequent leg down was painful as it pushed it to $63,800. After a couple of recovery attempts to $64,400, the bears resumed control once again. This time, they were even more persistent, pushing it to under $63,000 on Thursday. The same scenario repeated with lower highs, and BTC slumped once again on Friday to a 10-day low of $62,500.
As such, the asset had lost roughly $3,000 since the start of the week. The bulls finally intervened after this steep decline, given the current sluggish market environment, and helped it recover to $63,000, where it has remained for the past day and a half.
Its market capitalization remains at $1.265 trillion on CG, while its dominance over the alts is still below 57%.
Weekly Gainers and Losers
The weekly scale is quite contrasting, but red tends to dominate. Ripple’s XRP dipped below $1.00 on a couple of occasions in the past week and it has managed to remain at precisely that level as of now after a 3.5% dip since last Sunday. ETH is below $1,900 following a 1.6% decline.
Even more losses come from ADA (-10.6%), UNI (-18%), DOT (-7%), BCH (-5.5%), HBAR (-6.6%), and ZEC (-5%). In contrast, WLFI and WLD are the two top gainers from the larger caps, both surging by over 13% since last Sunday. LINK has jumped by 13% to $9.4. XMR (7.7%) and HYPE (4%) follow suit.
The total crypto market cap has remained sideways at around $2.230 trillion on CG.
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