Bitcoin’s rather dull price actions over the weekend continue as the asset remains sideways at around $91,000, but it’s up by more than ten grand since last Friday’s multi-month low.
Most larger-cap altcoins are sluggish on a daily scale, aside from HYPE, AVAX, and ZEC – all of which have dumped hard since yesterday.
As mentioned above, the previous business week was quite painful for the primary cryptocurrency as it plunged below $81,000 for the first time since April. This meant that it had lost over $25,000 in just ten days.
The bulls finally stepped up at this point and defended the $80,000 support. BTC started to recover some ground and quickly bounced to $84,000 last weekend. Its more impressive gains came during the business week when it initiated a leg up to $88,000 by Wednesday.
Although that resistance held at first, the bulls managed to break through it that night, and bitcoin even jumped past $90,000 at the end of the week. Its local high came on Friday morning when it surged to just over $93,000.
However, it couldn’t keep climbing, and the subsequent rejection drove it to the $90,000-$91,000 range, where it has been situated for the past 36 hours or so. Its market cap has increased to $1.820 trillion, while its dominance over the alts stands tall above 57% on CG.
The weekly charts are quite impressive, given the rebound attempts by many altcoins. ETH and XRP are up by over 7% to $3,000 and $2.20, respectively. SOL has gained 5% and so has HYPE, even though it’s down by 6% in the past 24 hours.
XMR, XLM, AVAX, SUI, SHIB, CC, and AAVE are also well in the green weekly. ZEC trades differently than most altcoins again, but this time in a painful manner. The privacy token has plunged by over 21% since last Sunday and now sits below $450.
The total crypto market cap has added over $300 billion since last Friday’s low and is close to $3.2 trillion now.
