FTT Explodes 250% Weekly Amid FTX Revival Rumors, BTC Flat at $37K (Weekend Watch)
After a highly volatile and mostly positive trading week, bitcoin has finally calmed at around $37,000.
The same cannot be said about numerous larger-cap altcoins, including Solana, Shiba Inu, Tron, Dogecoin, and Avalanche.
BTC Stalls at $37K
The business week started on a negative note, with BTC slipping below $35,000 amid lower trading volumes. However, things quickly picked up on Tuesday, and the bulls sent the cryptocurrency flying to almost $26,000.
Although the asset was unable to overcome that level at first and was pushed back down to $35,200, it reversed its trajectory on Wednesday evening and Thursday. It saw a massive surge on Thursday that brought it to an 18-month peak at $38,000.
Nevertheless, the bears intercepted the move at that point and drove bitcoin south hard. In a matter of minutes, BTC found itself dumping to under $36,000.
The bulls managed to intervene once more and started recovering some of the lost ground. Nevertheless, BTC couldn’t go higher than $37,600 and currently sits at around $37,000 after a sluggish 12 hours.
Its market capitalization remains above $720 billion, and its dominance over the altcoins is close to 51.5% on CMC.
FTT Skyrockets Amid Rumors of Restart
Ethereum was among the top performers in the past few days as BlackRock registered a trademark in Delaware to potentially file for a spot ETH ETF in the States. The second-largest digital asset shot up by over $200 in hours and marked a 7-month high at over $2,100 yesterday. Now, though, ETH is slightly in the red and sits below $2,100. BNB has declined by a similar percentage.
On the other hand, XRP, LINK, ADA, and LINK are with minor gains. Solana, Dogecoin, Tron, Polkadot, Shiba Inu, and Avalanche, though, have skyrocketed by more impressive percentages. In the case of SOL and SHIB, the gains are by double digits.
FTT, however, is today’s top performer. FTX’s native token has soared by 45% daily and 250% weekly. This comes amid rumors indicating that the exchange could be revived soon. Even the SEC’s chair laid out the conditions under which FTX could be reactivated.
The total crypto market cap has reclaimed the $1.4 trillion spot amid the latest price rallies.