These Are This Week’s Top Altcoin Performers as Bitcoin (BTC) Stalls Below $68K (Weekend Watch)
As it happened during the past few weekends, bitcoin’s price actions have calmed, and the asset sits at just under $68,000.
The altcoins are also quite sluggish on a daily scale, but the weekly landscape has produced some mind-blowing gains.
BTC Stops Below $68K
Bitcoin had a strong start to the current week as it exploded from under $69,000 to over $70,500 in hours on Monday. As the bulls were preparing for another run, perhaps even challenging the all-time high of $73,800, the asset’s trajectory reversed, and it started losing value rapidly.
By Tuesday, the cryptocurrency had slumped by more than three grand and was close to breaking below $67,000. The volatile price rides kept coming in the following days, including a few attempts to take down $70,000 and a couple of drops to under $67,000.
The end of the business week was a lot less eventful, and BTC calmed at around $68,000. The weekend has been particularly sluggish as the primary digital asset has failed to make a single big move in either direction and now stands inches below that level.
Its market capitalization stands still at $1.330 trillion, while its dominance over the alts is at 50%.
Bitcoin/Price/Chart 02.06.2024. Source: TradingView
NOT’s Week
Most altcoins have mimicked BTC’s performance on a daily basis, meaning that they have failed to produce any significant moves. As such, we will focus on the weekly performances.
The landscape is quite painful for some larger-cap alts like Uniswap, which has slumped by more than 12% within this timeframe. Dogecoin is down by 7% and has slipped below $0.16. More losses come from the likes of BCH, NEAR, ARB, IMX, and XRO.
In contrast, ETH is with minor weekly gains, mimicked by TON and SHIB. LINK and WIF have jumped the most in the past seven days.
The biggest gainers from the top 100 alts are NOT (270%), BRETT (61%), JASMY (50%), TIA (22%), and BGB (21%).
The total crypto market cap has shed about $40 billion since last Sunday and is at $2.660 trillion on CG now.
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.
