Bitcoin

This Week’s Best Performing Altcoins Revealed as Bitcoin (BTC) Eyes $70K (Weekend Watch)

2 Mins read

Bitcoin is having a relatively quiet weekend, but its price is still gradually inching toward the $70,000 level.

Most alternative coins are also rather sluggish on a daily scale, but the weekly charts show impressive gains from the likes of SHIB, DOGE, SOL, ETH, and BNB.

BTC to Challenge $70K Again?

Last weekend was also quiet for BTC as the asset had calmed below $62,000. However, Monday began on a more positive note, and the cryptocurrency jumped by more than six grand by Tuesday morning.

The bulls initiated another leg up in the afternoon that resulted in breaking the previous all-time high set in November 2021. What followed was a massive rejection that pushed BTC south by nearly ten grand.

Nevertheless, Bitcoin started to recover rather quickly and was up to $67,000 within less than a day. Another run came on Friday afternoon, and BTC skyrocketed to over $70,000 for the first time ever. Once again, though, the bears were quick to intercept the move and drove it down.

Since then, BTC has been more sluggish but has gradually increased to just $500 away from $70,000. Its market capitalization has gone above $1.360 trillion on CoinGecko, and its dominance over the alts is 49.4%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Top Weekly Gainers

The past day has been rather uneventful for most alts, so we will focus on the weekly performances. The second-largest cryptocurrency has been on a roll lately, surging by more than 15% since last Sunday and standing close to $4,000.

Binance Coin tapped a multi-year peak of its own, and a 22% surge has driven it to just over $500. Solana is close to $150 after a 15% weekly increase. Polkadot’s gains are quite similar, and DOT now stands above $10.

The week belonged to the meme coins – Shiba Inu, PEPE, and Floki in particular. The frog-inspired meme coin is up by 120% in the past seven days, FLOKI has soared by 82%, while SHIB has gained 65% and has neared Dogecoin in terms of market cap dominance.

The total crypto market cap is up to $2.763 trillion on CoinGecko after gaining nearly $300 billion in a week.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto
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Cryptocurrency charts by TradingView.


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