BTC Calms Above $68K, Altcoins See Impressive Gains
BTC Calms Above $68K
Last weekend went without any fireworks as BTC had recovered to $62,000 after slumping below $59,000 on Thursday. The eventful price movements were left for the trading week, which started with a price surge on Monday to $64,500 at first and $66,500 later during the day.
Tuesday was even more volatile, with bitcoin surging to $68,000, getting rejected and pushed south by three grand, and jumping to $68,000 once again by Wednesday.
The primary cryptocurrency kept rising gradually in the following days, which culminated on Friday with a jump to $69,000 for the first time since the end of July. It has failed to overcome that level, though, and has lost some traction since then. Nevertheless, BTC still trades above $68,000 and is up by 8.5% within the past week.
Its market cap has calmed at $1.350 trillion, and so has its dominance over the alts at 55.1% on CG.
APE Back in Top 100
As reported earlier today, ApeCoin has emerged as the top performer in the past 24 hours, having surged by over 60% on a daily scale after the launch of its mainnet. As such, APE has returned to the top 100 largest alts by market cap with a price tag of $1.2.
With most altcoins sitting quietly with minor losses over the past day, we will focus more on their weekly performances, where Dogecoin stands in a league of its own. The OG meme coin has soared by nearly 30% since last Sunday and now trades above $0.14 after the latest interactions by Elon Musk.
The other notable gainers include LTC (13%), BCH (9.5%), SOL (8%), and ETH (7%).
Cryptocurrency Market Overview
The total crypto market cap has calmed at $2.450 trillion after surging by roughly $150 billion weekly.
Frequently Asked Questions
- What is the current market situation for Bitcoin (BTC)? BTC has calmed above $68,000 and is up by 8.5% within the past week.
- How has the altcoin market performed this week? Most altcoins have been slightly in the red, but some have shown impressive gains, including DOGE, up 30%, and other notable gainers such as LTC, BCH, SOL, and ETH.
- What is the current market cap of the cryptocurrency market? The total crypto market cap has calmed at $2.450 trillion.
- What is the dominance of Bitcoin (BTC) in the market? BTC has a dominance of 55.1% over the alts on CG.
