Bitcoin calmed down over the weekend after the recent roller coaster ride and its price now sits at just over $98,000.
Most altcoins are also quite slow today, but the weekly scale shows massive recoveries in ADA, DOGE, AVAX and others.
BTC at $98,000
The business week started off on the wrong foot for BTC. The asset struggled to hold above $94,000 over the previous weekend, but lost that resistance and fell sharply on Monday. As reported at the time, the cryptocurrency shed roughly three thousand and fell to a monthly low of $91,300.
Many started predicting that the correction will last and drive BTC below $90,000, but the bulls intercepted the move and did not allow another pullback. On the contrary, bitcoin started to recover in value and go through substantial fluctuations, but overall it managed to get out of its terrible situation.
It rose to $99,000 on Friday, but stopped there and pushed south to $98,000. It has remained in a relatively tight range over the weekend and now sits just inches above $98,000 after gaining 3.3% on a weekly basis.
Its market cap has risen to nearly $1.950 trillion in CG, while its dominance of the highs has dropped more than 1% in a week to 53.1%.
Bitcoin/Price/Chart 5.1.2025. Source: TradingView Highs in weekly recovery
Most altcoins are well in the green on a weekly basis. Ethereum has recovered more than 6% in value and is above $3,600. Ripple’s native token is around $2.4 after a weekly increase of 9%.
The biggest gains from the largest cap altcoins come from Cardano and Dogecoin. Both assets are up by double digits, with ADA leading the way after a 22% increase.
Other notable gains include SUI, which hit a new all-time high, XLM and AVAX. In contrast, TON and BNB are slightly in the red on a weekly basis.
The total crypto market cap has risen to $3.660 trillion on CG after bottoming out at less than $3.4 trillion earlier this week.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored) Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).
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