Bitcoin (BTC) experienced a rollercoaster ride this week, with a sudden drop followed by a significant recovery. The cryptocurrency initially showed promise, climbing from under $69,000 to a weekly high above $70,500, fueling hopes of reaching its all-time high of $73,800. However, on Tuesday, the market took a different turn, and Bitcoin plummeted by over $3,000.
The following days were characterized by volatility, but the price of Bitcoin stabilized within the range of $67,000 to $69,000. An attempt to break through the upper limit of this range on Thursday was met with resistance, resulting in a sharp decline to a weekly low of $66,600.
Fortunately, investors stepped in to prevent further declines and the bulls emerged victorious. Bitcoin saw an increase of around $1,000, bringing its price to between $67,500 and $68,000.
Meanwhile, Ethereum (ETH) demonstrated resilience and approached the $3,800 mark, despite minor fluctuations over the weekend. Other altcoins such as Binance Coin (BNB), Solana (SOL), Ripple (XRP), Cardano (ADA), and Polkadot (DOT) experienced limited gains. Chainlink (LINK) and PEPE also made modest gains of around 4% in a single day.
Conversely, Shiba Inu (SHIB) and Uniswap (UNI) faced declines of nearly 2% and 5%, respectively, with UNI dropping below $10.
It is important to note that the views and opinions expressed in this article are for informational purposes only and should not be considered as financial or investment advice. Investing or trading cryptocurrencies carries inherent risks of financial loss.
In other news, Bitcoin maintains its position around the $69,000 mark, while UNI and PEPE lead the gains among altcoins. Ethereum continues its upward trajectory, approaching $4,000, while PEPE sets a new record.