Bitcoin
These Are This Week’s Top Altcoin Performers As Bitcoin (BTC) Is Below $68K (Weekend Watch)
As has happened over the past few weekends, bitcoin’s price action has calmed down and the asset is sitting at just under $68,000.
Altcoins are also quite slow on a daily basis, but the weekly scenario has produced some mind-blowing gains.
BTC drops below $68K
Bitcoin got off to a strong start in the current week, exploding from under $69,000 to over $70,500 within hours on Monday. As the bulls prepared for another run, perhaps even challenging the all-time high of $73,800, the asset’s trajectory reversed and it began to rapidly lose value.
By Tuesday, the cryptocurrency had fallen more than three thousand and was close to breaking below $67,000. O volatile price increases it kept coming over the next few days, including a few attempts to break $70,000 and a few drops below $67,000.
The end of the trading week was much less hectic, and BTC calmed for about $68,000. The weekend was particularly slow as the leading digital asset failed to make a single big move in either direction and is now inches below that level.
Its market capitalization remains at $1.330 billion, while its dominance over alts is 50%.
Bitcoin/Price/Chart 02.06.2024. Source: TradingView
NOT week
Most altcoins mimicked BTC’s performance on a daily basis, meaning they failed to produce significant moves. As such, we will focus on weekly presentations.
The scenario is quite painful for some larger capitalization alts, such as Uniswap, which fell more than 12% in this period. Dogecoin dropped 7% and fell below $0.16. More losses come from companies like BCH, NEAR, ARB, IMX and XRO.
On the other hand, ETH shows smaller weekly gains, imitated by TON and SHIB. LINK and WIF were the ones that jumped the most in the last seven days.
The biggest gainers among the top 100 alts are NOT (270%), BRETT (61%), JASMY (50%), TIA (22%), and BGB (21%).
The total cryptocurrency market value has fallen by around $40 billion since last Sunday and now stands at $2.660 trillion in CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.