Ethereum surpasses $3,800 while Bitcoin remains below $68,000

After a week marked by ups and downs, Bitcoin (BTC) faced an abrupt drop on Friday, reaching a weekly low close to US$66,650, before experiencing a significant recovery of around a thousand dollars. Meanwhile, altcoins exhibited more static behavior, highlighted by Ethereum (ETH), which registered a slight increase of 1% and approached the US$3,800 mark.

The week began in a bullish mood for Bitcoin, with bulls pushing the cryptocurrency’s value from under $69,000 to a weekly peak above $70,500. The initial euphoria suggested a possible approach to the all-time high of US$73,800. However, on Tuesday, the market took a different direction, with Bitcoin plummeting more than three thousand dollars.

The scenario in the subsequent days was marked by volatility, but the price of Bitcoin stabilized, fluctuating between US$67,000 and US$69,000. An attempt on Thursday to breach the upper limit of that range was quickly rebuffed, leading to a sharp drop to $66,600, the lowest of the week.

However, investors did not allow the price to continue falling. The bulls finally resurfaced at this point and did not allow any further declines. On the contrary, BTC has increased by around $1,000 and is now between $67,500 and $68,000.

On the other hand, Ethereum has proven resilient and is now close to reaching $3,800, despite modest variations over the weekend. Other cryptocurrencies such as Binance Coin (BNB), Solana (SOL), Ripple (XRP), Cardano (ADA) and Polkadot (DOT) showed limited gains. Meanwhile, Chainlink (LINK) and PEPE advanced around 4% in one day.

Contrarily, Shiba Inu (SHIB) and Uniswap (UNI) faced drops of nearly 2% and 5% respectively, with UNI dropping below $10.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.