Bitcoin had a wild week, with prices going up and down like a rollercoaster. It dropped from $66,000 to $49,800 in just a few hours, but then bounced back to a high of $62,300. By the end of the week, it settled around $60,000.
Bitcoin’s Strength
While Bitcoin was going through this wild ride, most other cryptocurrencies (altcoins) were struggling. This made Bitcoin even more dominant in the crypto market.
For example, Ethereum, the biggest altcoin, fell to $2,300, its lowest point in over six months. But Bitcoin recovered quickly, showing its strength and taking back lost ground.
Now, Bitcoin holds 56.2% of the entire crypto market value, its highest level since the 2021 bull market.
Altcoin Update
Some altcoins are starting to recover from last week’s losses, but not as strongly as Bitcoin.
One exception is XRP, which jumped after a court ruling in its favor. It reached $0.6372, but has since dropped slightly to $0.5923. Still, it’s up 7.78% for the week.
Toncoin (TON) also saw gains after being listed on Binance, a major cryptocurrency exchange. Its price surged by over 13% in a day, and it’s currently trading at $6.62, up 10.9% for the week.
