CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Market Updates » The Weekly Recap: Bitcoin Rejected at $50K, Cardano and Solana Break All-time Highs

The Weekly Recap: Bitcoin Rejected at $50K, Cardano and Solana Break All-time Highs

Author: Jordan Lyanchev

Last Updated Sep 2, 2021 @ 11:15

Following five consecutive green weekly candles, bitcoin is on its way to close a red one after a $50k rejection. ADA and SOL break to new ATH.

Getting your audio player ready...

It was a compelling week in the cryptocurrency markets. It took bitcoin more than three months, but it finally did it this week – reaching the $50,000 price line for the first time since May. However, it also took less than 24 hours for the bears to get back in action and push it beneath that level.

The primary cryptocurrency spent the next few days sliding south and bottomed yesterday at just over $46k, but it found support amid the 200-day moving average line. Despite recovering some ground and reclaiming $47k and $48k hours later, the short-term technical aspects have turned slightly negative, with bearish divergence forming on the daily chart (as of now).

With possible regulations coming from the US and on the other hand – El Salvador’s historic BTC law going into effect in less than two weeks, bitcoin’s price might enter another volatile period in the next short term future.

The alternative coins (altcoins) also went through a roller-coaster in the past week. Cardano (ADA) stole the show at one point as it charted new consecutive all-time highs. It even surpassed BTC in terms of Twitter mentions as its price neared $3. Then, though, came the market retracement, and ADA declined slightly. Nevertheless, it’s still about 13% up since last Friday.

Binance Coin’s (BNB) price against the dollar has increased by 12% in a week as the leading crypto exchange behind the token seems to have settled some of its regulatory issues with the UK Financial Conduct Authority.

Alicia Bakery
CMO - A really good agency

Did you like this market update?
This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:

Invalid email address
Your privacy is guranteed.
Thanks for subscribing, you will get your first report in the next hours!

The other impressive gainer from the top ten is Solana. SOL went to a new all-time high earlier today at above $83 as community sentiment continues to grow. On the other hand, Ripple (XRP) and Dogecoin (DOGE) are both around 10 – 13% down over the past week.

Market Data

Market Capitalization: $2.160T | 24Volume: $127B | BTC Dominance: 42.2%

BTC: $48,150 (-0.8%) | ETH: $3,230 (-2%) | ADA: $2.8 (13%)

The Crypto News You Better Not Have Missed This Week

Morgan Stanley Increases its Crypto Exposure With Large Investments in the Grayscale Bitcoin Trust. One of the largest US financial institutions, Morgan Stanley, has continued to show its support for the cryptocurrency industry. As revealed this week, the Wall Street behemoth’s Insight Fund owns more than 900,000 shares of the Grayscale Bitcoin Trust.

Citi Awaits Regulatory Approval to Start Trading Bitcoin Futures on CME: Report. Speaking of Wall Street adoption, another banking giant – Citigroup – is reportedly considering trading BTC futures on the Chicago Mercantile Exchange (CME). The development comes after a rapidly increasing demand from institutional investors.

MicroStrategy Acquires Nearly 4,000 Bitcoin for $177 Million. The NASDAQ-listed business intelligent company spearheaded by Michael Saylor continues to employ its BTC strategy. Earlier this week, it announced another substantial purchase worth nearly $200 million.

Bloomberg Strategists Predict: The SEC Could Approve a Bitcoin Futures ETF in October 2021. VanEck and ProShares withdrew their recent Ethereum futures ETF applications. This could signal that the SEC is ready to approve a BTC futures ETF in the next few months, argued two analysts from Bloomberg.

UK Billionaire Simon Nixon’s Family Office to Enter the Cryptocurrency Space: Report. Adam Proctor, a managing director at Seek Capital – the family office of the UK billionaire Simon Nixon – said the institution aims to increase its exposure to the cryptocurrency market and hire a designated analyst.

Cuba’s Government Looking to Recognize Bitcoin and Crypto for Payments: Report. Cuba’s Central Bank is reportedly seeking to recognize and regulate cryptocurrencies to be used for payments. This comes just a few months after President – Miguel Díaz Canel – said the authorities contemplated how they can adopt digital assets.

Charts

This week we have a chart analysis of Bitcoin, Ethereum, Ripple, Cardano, and Solana – click here for the full price analysis and overview.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!


Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.
Tags: Bitcoin Cardano Solana
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Farm Airdrops on Hyperliquid (HYPE): The Complete Guide to Free Money This Crypto Cycle

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top