These highs released the most weekly as Bitcoin (BTC) calms at $62,000 (weekend watch)

Bitcoin price movements have calmed down over the weekend, somewhat expectedly, with the asset holding around $62,000.

Most of the highs have performed similarly since Friday, but the weekly picture is quite painful, with several double-digit losers.

BTC stops at $62,000

It’s safe to say it wasn’t a good week for the mainstream cryptocurrency. Last Sunday it was above $66,000, but its troubles started as early as Monday with a drop to $63,000. The situation worsened in the middle of the week amid escalating tensions in the Middle East. This culminated on Wednesday and Thursday with some price drops below the coveted $60,000 level.

However, the bulls managed to defend this level and pushed bitcoin north. Since that multi-week low on Thursday, the cryptocurrency has recovered about two thousand and now sits around $62,000. His movements over the weekend have been pretty dull.

Still, bitcoin is down more than 5% in the past week. That means its market dominance has fallen from over $1.3 trillion to $1.225 trillion now. Its dominance over the highs, however, has increased over the same period to 54.3% in CG.

Bitcoin/Price/Chart 06.10.2024. Source: TradingView XRP, DOGE Lead on the Way Down

Ripple’s native token was frequently in the news during the week. Although it got off to a positive start with a filing for an XRP ETF, the SEC quickly put a stop to the enthusiasm by filing an appeal against a 2023 court ruling on secondary sales of the asset.

This had a dramatic impact on its price as it fell 15% in less than a day from over $0.6 to $0.51. XRP is still down double digits on a weekly basis, although it has recovered slightly to $0.53.

Other notable losers on a weekly basis for larger-cap alternatives include DOGE (-13.7%), ADA (-11.4%), SHIB (-11.4%), DOT (-12.4%), NEAR (-12.2%), and more.

The total crypto market cap lost more than $150 billion at one point during the week, but has regained some traction and is now $2.250 trillion in CG.

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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