Bitcoin’s price movements continue to be somewhat underwhelming for the past few days, as the asset stands calm at just under $38,000.
Most altcoins are also more sluggish today, with minor gains charted by Chainlink and Tron from the larger caps.
BTC Stalls Beneath $38K
Bitcoin’s week was quite volatile, fueled by the recent developments on the Binance-US authorities front. The Department of Justice announced a massive settlement deal with the world’s largest exchange that saw the latter pay $4.3 billion without admitting guilt, and its CEO and founder – Changpeng Zhao – had to step down from his position.
As a response, BTC dumped to a weekly low of $36,600 before it bounced off rather immediately by a grand. More fluctuations followed, and the culmination came on Wednesday when the bulls initiated a notable leg-up that drove bitcoin to an 18-month peak of $38,500.
However, the asset failed to maintain its momentum and retraced back down to under $38,000, where it has been stuck for the past couple of days.
This means its market capitalization has remained stuck at $740 billion, and so does its dominance over the altcoins at 51.3%.
This Week’s Top Gainers
Just like with BTC, most altcoins went through a volatile rollercoaster in the past several days, but most have calmed now.
The landscape on a daily scale shows minor losses from XRP, BNB, SOL, and DOGE, while ETH, ADA, AVAX, MATIC, and DOT have insignificant gains.
The most substantial daily jumps come from Chainlink and Tron as both have spiked by around 3%.
On a weekly scale, BLUR has emerged as the top gainer. The NFT platform’s native token has soared by more than 70% and sits at $0.6. STEPN (34%), ApeCoin (30%), MINA (30%), and Klaytn (27%) follow suit.
The total crypto market cap has added a few billion overnight and is close to $1.450 trillion on CMC.
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Cryptocurrency charts by TradingView.