After several weeks of sideways trading and failing to register any significant price movements in either direction, these past seven days provided more volatility that resulted in both multi-day lows and highs for BTC.
It all started on Monday when the primary cryptocurrency dumped by several hundred dollars after the quiet weekend to a weekly low of $28,700. However, the bulls intercepted the move and pushed the asset north. In fact, what followed was among the most notable leg-ups registered in the past few months, as bitcoin shot up to over $30,000 by Wednesday.
This became its highest price tag since July 23. The asset tried to remain above $30,000 but failed by the end of the day and the subsequent rejection pushed it back south to its current price tag of around $29,500. Interestingly, even the CPI numbers that came out earlier this week didn’t result in enhanced volatility, which used to be the case up until a few months ago.
Some altcoins, though, have performed a lot better than BTC for the same 7-day period. Such is the case with Solana, Chainlink, TONCOIN, HBAR, and OKB. All of these have surged by somewhere between 6 and 9% on a weekly scale.
Nevertheless, Shiba Inu has taken the main stage from the larger-cap alts. SHIB has soared by more than 16% since last Friday and trades above $0.00001.
Rollbit Coin has emerged as the top performer within the same timeframe, having added over 76% of value. This has helped RLB find a place within the top 100 largest digital assets by market cap.
Market Cap: $1,218B | 24H Vol: $29B | BTC Dominance: 47%
BTC: $29,435 (+0.7%) | ETH: $1,850 (+0.4%) | BNB: $240 (-0.7%)
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