The last seven days have not gone well for bitcoin, which is on track to end the week with minor losses of almost 2%.
Altcoins were much more volatile, but the majority are now deep in the red. Solana and Tron are among the rare exceptions to the largest caps.
BTC uncertain at $67,000
The business week started off pretty well for the leading cryptocurrency as it surged Monday morning to $69,500 to mark its highest price since late July. However, the landscape changed at that point as it was mostly downhill.
BTC fell sharply at the end of the day and continued to lose value until Wednesday’s high point, where it fell to $65,000. It rebounded on Thursday, but some FUD surrounding Tether pushed it south once again, this time to $65,500 (on Bitstamp).
The bulls managed to intervene at this point and propelled a price rally that pushed the cryptocurrency to around $67,000 yesterday. It has regained some more traction over the past 24 hours and is now above $67,000.
As a result, bitcoin fell 1.6% last week despite massive ETF inflows, hurting its market capitalization. This figure has now fallen to $1.325 trillion. However, its dominance over alts reached a new 2021 high of 55.6% on CoinGecko.
SOL, TRX Weekly Gain
As most alt characters sit quietly on a daily scale, we will focus on their weekly performances. It’s been another volatile week in the market, but most larger-cap alternative stocks are poised to end it in the red.
Ethereum has lost 6% of its value during this period and is now below $2,500. Toncoin (-6%), Avalanche (-8%) and Shiba Inu (-8.5%) are also deep in the red.
The situation with Polkadot, NEAR, SUI, LTC, APT, FET, PEPE, IMX, TAO and STX is even more painful, with losses of up to 15%.
The two largest-cap alternative companies that have clearly defied this trend are Solana and Tron. SOL has gained 8.5% weekly and sits above $170, while TRX sits north of $0.166 after a 6% rally.
The total crypto market cap, however, has lost more than $60 billion since last Sunday and is below $2.390 trillion on CG.
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