Bitcoin’s gradual ascent continued in the past 24 hours, as the asset managed to bounce above $105,000 and even challenged $106,000 briefly.
Since most altcoins are quite sluggish on a daily scale, we will examine in more detail their weekly performances, where TAO and CRO stand in one corner, while HYPE, LEO, ICP, and TRX are in the other.
BTC Above $105K
The world’s largest cryptocurrency tried to break out at the beginning of the business week from its consolidation range but was stopped at $106,000 and $106,500 on Monday and Tuesday. The following rejections drove it south to the lower boundary, but the bulls went on the offensive once again on Thursday.
However, bitcoin was stopped once again at $106,000, but this time, the correction was a lot more violent. Perhaps influenced by the ongoing spat between US President Trump and Tesla CEO Musk, BTC’s price tumbled hard and went to a multi-week low of $100,400 (on Bitstamp).
As it came close to a breakdown below the coveted $100,000 level, the situation reversed and bitcoin started to recover some ground. By Friday noon, it had rebounded to around $105,000. Slightly more volatility followed, but BTC was ultimately stopped at $106,000 yesterday and now trades around $500 lower.
Its market capitalization has risen to just shy of $2.1 trillion, while its dominance over the alts stands tall at 61.5%.
Alts Up and Down
The weekly scale shows that HYPE has emerged as the top gainer, having surged by almost 9%. As a result, the high-flyer now sits above $35, just less than $5 away from its recent peak. ICP follows suit with an 8% weekly increase, while LEO, TRX, and AAVE are next.
On the opposite scale are TAO (-11%), GT (-5.3%), and CRO (-5.2%). SOL, DOGE, ADA, AVAX, and SHIB are also about to close the weekly candle in the red.
The total crypto market cap has added around $30 billion since yesterday and is up to $3.410 trillion on CG.
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