Bitcoin Bounces Back from Weekly Low, Ethereum Eyes $3.8K

Bitcoin Bounces Back

After a few days of sideways trading, Bitcoin’s price took a dip on Friday, hitting a weekly low of around $66,600 before recovering by approximately $1,000. Meanwhile, Ethereum is closing in on the $3,800 mark, gaining about 1% in value.

Key Takeaways

  • Bitcoin hit a weekly low of $66,600 before recovering to around $67,500-$68,000.
  • Ethereum is up by 1%, nearing the $3,800 mark.
  • The total crypto market cap has decreased by $20 billion, now standing at $2.660 trillion.
  • Altcoins like BNB, SOL, XRP, ADA, and DOT show insignificant gains, while LINK and PEPE increased by 3-4%.
  • SHIB and UNI have slumped by 3% and 6%, respectively.

Bitcoin’s Volatile Week

The start of the business week saw Bitcoin under the control of the bulls, driving its price from under $69,000 to a weekly high of over $70,500. However, hopes of challenging the all-time high of $73,800 were dashed as Bitcoin slumped by more than $3,000 by Tuesday.

Volatility continued throughout the week, with Bitcoin fluctuating between $67,000 and $69,000. A brief attempt to break past $69,000 on Thursday was met with rejection, causing the price to plummet to $66,600 on Friday, marking its lowest point in a week.

The bulls reemerged at this low, pushing Bitcoin back up by roughly $1,000. As of now, Bitcoin is trading between $67,500 and $68,000. Its market capitalization has slipped to $1.330 trillion, maintaining a 50% dominance over altcoins.

Ethereum Eyes $3.8K

Ethereum has shown a modest gain of about 1% on a daily scale, bringing its price close to $3,800. This movement is relatively subdued compared to the volatile ride Ethereum experienced last week amid ETF news.

Altcoin Performance

  • BNB, SOL, XRP, ADA, and DOT: Insignificant gains.
  • LINK and PEPE: Increased by around 3-4% in a day.
  • SHIB: Slumped by almost 3%.
  • UNI: Slumped by 6%, nearing a break below $10.

Market Overview

The total cryptocurrency market cap has seen a reduction of about $20 billion in a day, now standing at $2.660 trillion.

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Disclaimer: The information provided does not represent the opinions of the sources and should not be considered as financial advice. Conduct your own research before making any investment decisions.