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These are the best Altcoin performances this week while Bitcoin (BTC) remains below $68,000 (Weekend Watch)
As has been the case over the past few weekends, bitcoin price action has calmed down and the asset sits at just under $68,000.
Altcoins are also quite slow on a daily scale, but the weekly landscape has produced some eye-popping gains.
BTC stops below 68 thousand dollars
Bitcoin has had a strong start to the current week, exploding from under $69,000 to over $70,500 in just a few hours on Monday. As the bulls prepared for another run, perhaps even challenging the all-time high of $73,800, the asset’s trajectory reversed and it began to rapidly lose value.
On Tuesday, the cryptocurrency had fallen by more than three thousand dollars and was close to falling below $67,000. THE volatile price increases it kept coming over the next few days, including a few attempts to win $70,000 and a couple of drops below $67,000.
The end of the work week was much less eventful and BTC calmed down at approximately $68,000. The weekend was particularly slow as the primary digital asset failed to make a single large move in either direction and now sits just inches below that level.
Its market capitalization stands at $1.33 trillion, while its dominance over alts stands at 50%.
Bitcoin/Price/Chart 02.06.2024. Source: TradingView
It’s NOT the week
Most altcoins have been mimicking BTC’s performance on a daily basis, meaning they have failed to produce any significant moves. Therefore, we will focus on weekly performances.
The landscape is quite painful for some larger-cap alternatives like Uniswap, which has fallen more than 12% in this time frame. Dogecoin is down 7% and has slipped below $0.16. Further losses come from the likes of BCH, NEAR, ARB, IMX and XRO.
In contrast, ETH posts smaller weekly gains, imitated by TON and SHIB. LINK and WIF have seen the biggest jumps over the past seven days.
The biggest gainers among the top 100 alts are NOT (270%), BRETT (61%), JASMY (50%), TIA (22%), and BGB (21%).
The total cryptocurrency market capitalization has lost around $40 billion since last Sunday and now stands at $2.66 trillion on CG.
Cryptocurrency market overview. Source: QuantifyCrypto SPECIAL OFFER (Sponsored)
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Cryptocurrency charts from TradingView.