Bitcoin’s price movements over the weekend have returned to a much calmer state, with the asset remaining relatively stable at just over $61,000. Last weekend saw bears dominating the market, causing the primary cryptocurrency to drop from $66,000 on Friday to $57,000 by Sunday evening. The situation worsened on Monday when the price plunged to $49,500, marking Bitcoin’s lowest position in about six months.
Despite the significant drop, Bitcoin started to recover ground in the following days, surging to almost $63,000 on Friday morning. This rapid increase meant that Bitcoin had reclaimed over $13,000 in value in less than a week. However, the cryptocurrency failed to maintain its momentum and retraced by a few thousand dollars. Since then, the market has been choppy, but BTC has managed to remain above $61,000 in the past 24 hours.
The altcoin market has also seen improvements, with BNB and DOGE emerging as the top performers among larger caps. DOGE has surged by 5% and has reached $0.11 for the first time in days, while Binance Coin has surged by just over 4% and now sits above $530. Other altcoins such as ETH, SOL, XRP, ADA, AVAX, SHIB, and BCH are also slightly in the green, while TON is one of the larger-cap alts in the red.
Bitcoin’s market capitalization has risen above $1.2 trillion, while its dominance over altcoins has slightly declined and is now just under 54%. The total crypto market cap has added about $20 billion overnight and is currently at $2.245 trillion on CoinGecko. Aptos and FET are the top performers from the mid-cap cohort, with gains of 7% and 9%, respectively.
Overall, the weekend brought some stability to Bitcoin’s price, with the asset managing to hold above $61,000 after a volatile week. Altcoins have also seen positive movements, with BNB and DOGE leading the way in terms of performance among larger caps. Despite the fluctuations, the crypto market as a whole continues to show resilience and growth.
Leave a Reply