Following a volatile trading week, Bitcoin (BTC) has calmed around $109,500 after a significant price correction. The cryptocurrency initially challenged the $118,000 resistance level over a week ago but failed, leading to a sharp decline. BTC dropped over $6,000 from Monday to Thursday, hitting a three-week low under $109,000 before stabilizing. Its market cap struggles at $2.180 trillion, with dominance over altcoins rising to 56.5%.
In the altcoin space, most larger-cap assets like Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Cardano (ADA), HYPE, Chainlink (LINK), and Avalanche (AVAX) have seen double-digit weekly losses. ETH is particularly notable, struggling at the $4,000 support level. However, HASH and MYX Finance have outperformed, with daily gains of 24% and 11%, respectively, standing out amid broader declines.
The total crypto market cap has remained sideways at approximately $3.850 trillion after a weekly loss of $300 billion, indicating mixed market sentiment.
