In the past week, there has been a remarkable surge in the cryptocurrency market, with Bitcoin (BTC) and several large-cap altcoins showing strong performance. Despite facing intense market fluctuations, Bitcoin demonstrated its resilience by staying above the $69,000 mark.
Bitcoin initially struggled to maintain a price above $66,000 on the previous Sunday, but it experienced fluctuations before making a notable recovery. Positive expectations surrounding the approval of Ethereum ETFs in the United States drove BTC to nearly touch the $72,000 milestone for the first time in six weeks. However, it faced subsequent pullbacks, dropping to $66,400 before recovering and closing the week close to $69,000.
Meanwhile, Ethereum (ETH) saw significant gains, surging from $3,100 to over $3,900, its highest value since the beginning of April. Despite ongoing volatility, the second largest cryptocurrency ended the week near $3,820, representing a 22% increase.
Other cryptocurrencies, such as DOGE, LINK, and APT, also showcased impressive performances. However, it was Uniswap (UNI) and PEPE that garnered the most attention. UNI experienced a 44% price jump, while PEPE achieved multiple record highs throughout the week.
On the other hand, SOL, TRX, TON, and ADA faced setbacks, ending the week in negative territory. Nevertheless, the total value of the cryptocurrency market surpassed $2.7 trillion, with a $200 billion increase during the week.
During the weekend, the market remained relatively calm, and Bitcoin managed to maintain its position above $69,000. Its dominance in the cryptocurrency market reached 50.3%.
Disclaimer: The views and opinions expressed in this article, including those of the author and individuals mentioned, are solely for informational purposes and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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The Ethereum price today remains stable as the market awaits the SEC’s decision.