This Week's Biggest Gainers and Losers as Bitcoin (BTC) Settles at $66K
Weekend Recap: As we close yet another volatile week, Bitcoin prices have stabilized around $66,000 after a tumultuous series of days. Market movements for other crypto assets show a mixed picture with some surprising gainers and several notable losses.
Bitcoin's Volatile Week
Bitcoin faced several ups and downs, beginning the week at around $69,500 before reaching the $70,000 mark, only to face resistance and subsequently drop by four grand. This fluctuation was influenced by anticipation around the US CPI numbers and the subsequent FOMC meeting. Better-than-expected inflation data propelled BTC to $70,000 again, but the Fed's decision not to cut interest rates led to another decline. By Friday, the cryptocurrency saw its lowest position in a month at $65,000 before stabilizing above $66,000 over the weekend.
Market Capitalization and Dominance
Bitcoin’s market capitalization has successfully defended the $1.3 trillion level, maintaining a dominance over other altcoins at just over 51%.
Altcoin Performance
Among the alts, TONCOIN and Uniswap’s native token (UNI) have emerged as the standout performers of the week. TON has added 10% in value, reaching $7.8, while UNI has surged by 15%, trading above $11.5. In stark contrast, BNB has seen an 11% plunge, currently priced at $606 after peaking above $715 last week.
Notable Losers
The week's losers include:
- BNB: Down by 11%.
- NEAR and SHIB: Both have recorded double-digit declines.
Other Key Altcoins in Red
Several other large-cap altcoins are also in the red, though less dramatically:
- SOL, DOGE
- ADA, LINK
- AVAX, BCH
- MATIC, ETH
- DOT
Crypto Market Cap Overview
The total cryptocurrency market capitalization has shed over $120 billion in the past seven days, settling at $2.550 trillion.
For more insights into this week's crypto trends and detailed analysis, follow us on Bloomberg Crypto.
