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Aside from brief price pumps and dumps at around the $37,000 level over the weekend, bitcoin’s price has largely calmed in the past several days.
Most altcoins are also quite sluggish today, with the exception of Filecoin, Polygon, Optimism, and a few more.
BTC Calms at $37K
It was about a week ago when the primary cryptocurrency last dipped below the $35,000 line. However, the bulls took over the market at that point and pushed the asset north to almost $36,000 almost immediately.
After a minor retracement, bitcoin went on the offensive on Thursday and skyrocketed to $38,000 for the first time in 18 months. Nevertheless, it failed to maintain this momentum, and the subsequent rejection pushed it back down by over two grand.
BTC started reclaiming some of the lost value in the following hours and had claimed above $37,000 by the weekend. Saturday and Sunday were expectedly calmed, with little-to-no actual price movements.
As of now, BTC stands at around $37,000 once more, with its market cap sliding inches below $725 billion. Its dominance over the altcoins has taken a breather and is just above 51% on CMC.
Last Week’s Top Gainers
The past seven days were quite positive for most of the crypto market. Ethereum was among the leaders in terms of gains due to the speculations that BlackRock will file for a spot ETH ETF in the States. The native token went from $1,900 to a 7-month peak at over $2,100 at one point. Now, though, ETH trades around $100 lower.
Speaking of speculations, the rumors about FTX finally being able to restart operations under one form or another, which even got a nod from the SEC Chair Gary Gensler, sent the FTT token flying within the same timeframe. Despite a 9% daily retracement, FTT is up by 200% on a weekly scale.
The other triple-digit price gainers from the top 100 include ORDI, Celestia, and OX Protocol. Terra, THORChain, Solana, Avalanche, Cronos, and Filecoin follow suit.
The total crypto market cap added roughly $100 billion over the past week and stands well above $1.4 trillion on CMC.
