After this historic week in which bitcoin skyrocketed past its January all-time high and set a new one, the asset’s price has retraced following Friday’s tariff statements by the POTUS.
Many altcoins have posted notable gains on a weekly scale, led by HYPE, while SUI and XRP have retraced the most from the larger caps.
BTC to $108K
It all began last Sunday evening when BTC broke out of its weekend calmness and shot up from $103,000 to almost $107,000. It faced immediate resistance there and was pushed south on Monday. The scenario repeated once again as the business week progressed, but the bulls took complete control of the market on Wednesday.
After a minor pullback, the cryptocurrency went hard on the offensive in the afternoon and jumped past $109,100 to market a new all-time high. The bears were quick to intercept and drove bitcoin back down to $106,500, but that was another short-lived correction.
By Thursday morning, BTC had resumed its run and skyrocketed to almost $112,000 (on Pizza Day) to register a new all-time high.
More volatility ensued on Friday when US President Trump recommended new tariffs against the EU, and bitcoin slipped by several grand almost immediately. It now trades at around $108,000 after a quiet weekend, but it’s still 4% up weekly.
Its market cap remains close to $2.150 trillion on CG, while its dominance over the alts is above 61%.
Volatile Alts
The altcoins seem to be led by a new megastar: HYPE. Its price charted a new all-time high on Friday, and even a compromised Hyperliquid X account couldn’t halt its momentum. It’s up by 30% on a weekly scale and has become the top performer.
AAVE follows suit with a 19% weekly jump, while XMR is third with a 17.7% such increase. PEPE and BCH are next in line.
In contrast, SUI has dropped by 5% since this time last Sunday, and XRP has slipped to $2.3 after a 2.8% weekly decline.
The total crypto market cap has shed around $30 billion since yesterday and is down to $3.5 trillion on CG.
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Cryptocurrency chartsby TradingView.
