Bitcoin

These Are This Week’s Best-Performing Altcoins as Bitcoin (BTC) Calms at $67K (Weekend Watch)

2 Mins read

Bitcoin had a quite positive trading week in which it gained over six grand and skyrocketed to its highest price tag in almost a month of over $67,000.

Most altcoins also followed suit, with SOL, AVAX, BCH, LINK, and many others registering double-digit gains.

BTC Calms at $67K

Bitcoin had retraced to just over $60,000 last Friday, but the bulls managed to defend that psychological support level during the weekend. Moreover, the asset started to climb on Monday and jumped to just over $63,000. It failed there and retraced to $61,200 on Tuesday, ahead of the US CPI announcement for April, but shot up once those numbers came out.

More precisely, the cryptocurrency gained several grand and skyrocketed to over $66,500 for the first time since mid-April. Another brief retracement followed, but the bulls went on the attack once again in the past couple of days.

This time, they pushed the largest digital asset to almost $67,500. Despite retracing slightly since then, BTC still trades around $67,000 now. Its market capitalization remains at $1.320 trillion, while its dominance over the alts is at 51.7% on CG.

Bitcoin/Price/Chart 19.05.2024. Source: TradingView
Bitcoin/Price/Chart 19.05.2024. Source: TradingView

SOL Leads the Way

Since the past 24 hours have been quite dull in terms of price movements in the crypto space, we will focus on the weekly scale in which SOL and LINK have stolen the show. The former has soared by 17.5% and trades at a multi-week high of over $170, while LINK is up by 22% and stands close to $16.5.

Next on the weekly top gainers’ list are Avalanche (14%), Bitcoin Cash (13%), UNI (13%), IMX (10%), GRT (12%), NEAR (9%), and ICP (10%).

In contrast, TON has declined the most from the larger-cap alts, having lost over 9% of value in the past seven days. BNB and TRX are also slightly in the red.

The total crypto market cap is up to $2.550 trillion on CG, which means that it has gained over $150 billion on a weekly scale.

Cryptocurrency Market Overview. Source: QuantifyCrypto
Cryptocurrency Market Overview. Source: QuantifyCrypto
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Cryptocurrency charts by TradingView.


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