These Are This Week’s Top Altcoin Performers as Bitcoin (BTC) Stalls Below $68K (Weekend Watch)
As the weekend approaches, Bitcoin’s price has remained relatively stagnant, hovering just below $68,000. However, while BTC seems to be in a lull, several altcoins have experienced noteworthy gains over the course of the week.
Bitcoin began the week on a strong note, surging from under $69,000 to over $70,500 within a matter of hours on Monday. This prompted speculation that the cryptocurrency might even challenge its all-time high of $73,800. Unfortunately, the momentum quickly reversed, and BTC started to lose value rapidly. By Tuesday, it had fallen by over $3,000 and was dangerously close to breaking below the $67,000 mark. The following days saw more price volatility, including failed attempts to surpass $70,000 and occasional dips below $67,000.
As the business week came to a close, Bitcoin’s price settled around $68,000, and the weekend has thus far been uneventful, with no significant movements in either direction. Bitcoin’s market capitalization remains at $1.330 trillion, and its dominance over the altcoins stands at 50%.
Most altcoins have mirrored Bitcoin’s lackluster performance on a daily basis, failing to make any significant moves. However, when examining the weekly performances, some notable winners and losers emerge. Larger-cap altcoins like Uniswap saw a decline of over 12% during this period, while Dogecoin slipped below $0.16 after a 7% drop. Other losers include BCH, NEAR, ARB, IMX, and XRO.
In contrast, Ethereum (ETH) saw minor weekly gains, as did TON and SHIB. The biggest winners of the past seven days were LINK and WIF. However, the most impressive gains were made by altcoins outside the top 100, such as NOT (270% increase), BRETT (61% increase), JASMY (50% increase), TIA (22% increase), and BGB (21% increase).
Overall, the total crypto market cap has decreased by approximately $40 billion since last Sunday and currently stands at $2.660 trillion. Despite Bitcoin’s stagnant price, several altcoins have managed to make significant gains, indicating that investors continue to find opportunities within the crypto market.