It was another remarkable week in the cryptocurrency market, with bitcoin and several altcoins hitting new all-time highs. Bitcoin, the leading digital asset, faced some challenges last week but managed to rally over the weekend, reaching close to $119,000. The week started on a positive note as bitcoin surged above $122,000, only to face a slight setback mid-week before setting a new all-time high of $124,500. However, a sharp correction followed the peak, with bitcoin dropping below $118,000 due to the release of high PPI data, leading to significant market liquidations. Despite a partial recovery, bitcoin remains below $119,000, with more volatility expected as a Trump-Putin meeting looms to discuss potential peace negotiations. Ethereum also had a strong week, hitting over $4,700 but falling short of its all-time high of nearly $4,900. Other altcoins like BNB, SOL, HYPE, LINK, and ADA also saw notable gains. In terms of market data, the total market cap stands at $4.110 trillion, with a 24-hour trading volume of $236 billion and BTC dominance at 57.5%. Bitcoin is currently priced at $118,665 (+1.5%), while Ethereum sits at $4,640 (+18%) and XRP at $3.12 (-6.5%). Noteworthy headlines from the week include MicroStrategy’s purchase of 155 BTC for $18 million and the drop in Bitcoin dominance below 60%, signaling a potential altseason. Terraform Labs’ CEO pleading guilty to the company’s collapse, the speculation around the Bitcoin bull cycle, and Coinbase’s acquisition of Deribit were also significant news items. Additionally, the Ethereum exit queue has surged to 808,880 ETH, valued at $3.7 billion.
Bitcoin Reaches New High, Ethereum Surges Amid Trump-Putin Meeting: Weekly Crypto Update
