Bitcoin (BTC) has maintained a stable trading pattern over the weekend, holding above the $66,000 level for approximately 36 hours after rebounding from a four-week low of around $65,500 reached on Friday. This period of relative calm followed a week of significant volatility driven by geopolitical tensions and market sentiment shifts.
The primary cryptocurrency entered the weekend after a rollercoaster week. It traded above $70,000 the previous weekend, even approaching $71,000, before declining to around $67,500 on Monday morning amid escalating tensions between the US, Israel, and Iran. A sharp rally to nearly $72,000 occurred later on Monday after former US President Donald Trump stated a "de-escalation deal" had been reached with Iran, but prices quickly retreated to $69,000 after Iran denied the claims. Bulls pushed BTC back to $72,000 by Wednesday morning, only to face another rejection, culminating in the Friday dip to $65,500.
Despite the recovery, Bitcoin's market capitalization remains around $1.330 trillion, and its dominance over the altcoin market has slipped to 56% on CoinGecko. The total cryptocurrency market cap has also stagnated, hovering near $2.370 trillion.
Most large-cap altcoins mirrored Bitcoin's subdued performance. Ethereum (ETH), XRP, Solana (SOL), and Dogecoin (DOGE) registered minor losses, while Tron (TRX), Bitcoin Cash (BCH), Monero (XMR), HYPE, and Binance Coin (BNB) saw slight gains. The token RAIN posted a daily increase of over 3%.
Notably, the altcoin SIREN exhibited extreme volatility, surging 13% in the past 24 hours to trade around $1.80. Earlier in the week, SIREN had skyrocketed to $3.60 before crashing to $1.00, demonstrating its highly speculative nature. Meanwhile, Pi Network's native token, PI, rebounded more than 3% from a dip below $0.175, currently trading near $0.18. The PI community is reportedly anticipating a significant update to be completed in the coming week.
