Following a week filled with dynamic fluctuations and significant trading events, the price movements of bitcoin experienced a degree of stabilization as the weekend approached. Currently, the cryptocurrency rests at a calm $63,000, allowing traders to catch their breath after an eventful week.

While most altcoins have shown little to no daily movement, a broader view reveals some impressive weekly performance from cryptocurrencies such as TAO, SUI, APT, and many more that have made notable strides upwards.

Bitcoin Stabilizes at $63K

The week commenced with a noticeable decline in bitcoin’s price, witnessing a drop from over $60,000 to below $58,000. The mid-week market was rife with speculation as the US Federal Reserve convened with the intent of discussing potential interest rate reductions. This meeting proved pivotal, as the Board decided to lower rates by 0.5%, which sparked a series of dramatic price movements in BTC.

In the aftermath of this meeting, bitcoin experienced a thrilling rollercoaster ride. After its fluctuations, the bulls emerged victoriously, successfully pushing the cryptocurrency’s price above the $64,000 mark by Friday. This price point marked bitcoin’s highest valuation in over three weeks, indicating a brief resurgence in bullish sentiment.

However, the euphoria was short-lived as the asset began to retrace its gains modestly, settling down just over $1,000 from its peak. Ever since, bitcoin has predominantly traded sideways within the $63,000 range. Despite this pause, it remains a solid performer, recording a weekly increase of 4.6%, which has bolstered its market capitalization to slightly above $1.240 trillion.

Interestingly, bitcoin’s market dominance has seen a slight decline, dropping by 1% over recent days to 54%. Earlier in the week, it had soared to 55% (as reported on CoinGecko), signifying a fluctuating interest among investors in various altcoins.

Top Gainers of the Week

As previously mentioned, the previous week has proven to be quite fruitful for a broad array of crypto assets. Ethereum has experienced a 7% increase, currently hovering near the $2,700 mark. Similarly, SOL has enjoyed a comparable rise, now valued around $147. BNB has also made strides with a 5.5% increase, settling above $585. Furthermore, popular meme coin SHIB has seen a climb of 6%, and AVAX has surged almost 10%, trading just above $27.

In terms of larger-market-cap cryptocurrencies, TAO stands out with an impressive 47% increase, while SUI follows closely with a growth of 37%, and APT rounds out the top gainers with a 28% increase. Consequently, TAO’s value sits at an exciting $477, SUI approaches $1.5, and APT trades at a confident price of $7.85.

Overall, the total cryptocurrency market cap has seen an expansion of over $100 billion since last Sunday, now reaching approximately $2.3 trillion as recorded on CoinGecko. The collective gains across diverse assets illustrate a budding recovery for the marketplace.

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