Bitcoin experienced a whirlwind of volatility at the end of the business week, with a significant drop of $8,000 in its price. However, the cryptocurrency has managed to recover some of the losses since then. This rollercoaster ride was not limited to Bitcoin alone; several altcoins also faced a tumultuous time, with AVAX, BNB, SOL, and APT emerging as some of the top performers in the market.
The business week for Bitcoin started off with a series of intense price fluctuations. The cryptocurrency initially took a dive to $67,000 before seeing a sudden surge that led to a new all-time high of approximately $73,000. Just as optimism was on the rise, bears entered the scene and drove the price back down below $69,000 in a matter of hours. The volatility continued, with Bitcoin hitting another all-time high of nearly $74,000 on Thursday, only to be rejected once again. This rejection resulted in a drastic drop of $8,000, bringing the price down to a weekly low of under $66,000.
Bitcoin has been going through a period of recovery, with the price hovering just above $69,000 at the moment. The cryptocurrency’s market cap has also seen an increase, surpassing $1.350 trillion, while maintaining a dominance over other altcoins at 49.2%. Among the altcoins, Solana’s native token, SOL, has been on an upward trajectory, reaching a price of over $190 – its highest in over two years. AVAX has also seen a surge, hitting a multi-year high of $60 with a 12% daily increase. BNB reclaimed the $600 mark once again, showing a 5% rise in its price. Aptos, another altcoin, experienced significant growth, jumping by 14% to $15.
Market Cap Recovery and Overall Situation
Despite the ups and downs seen in the market, the total crypto market cap has seen a recovery of over $60 billion in just one day, now standing at over $2.760 trillion on CoinGecko. However, not all altcoins have been able to ride the wave of recovery, as DOGE and SHIB witnessed a decline of just over 3%, while ETH remained steady at just over $3,700. The market remains unpredictable, with investors keeping a close eye on the fluctuating prices and market trends.
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