Bitcoin had an incredibly positive trading week, seeing an increase of over $6,000 and reaching a peak of over $67,000. This surge brought Bitcoin to its highest price level in almost a month. The bullish trend started after a slight retracement to just above $60,000, which was quickly defended by the bulls over the weekend. On Monday, Bitcoin began its climb once again, peaking at over $63,000. Although there was a brief drop to $61,200 on Tuesday, the release of US CPI numbers caused another spike. Bitcoin gained several thousand dollars and soared to over $66,500 for the first time since mid-April. Despite a slight retracement, Bitcoin is currently trading at around $67,000, with a market capitalization of $1.320 trillion and a dominance of 51.7% over altcoins.
Not only did Bitcoin have a successful week, but many altcoins also experienced significant gains. SOL, AVAX, BCH, LINK, and others saw double-digit increases in their prices. Among the standout performers, SOL rose by 17.5% to trade at over $170, while LINK increased by 22% to reach close to $16.5. Avalanche, Bitcoin Cash, UNI, IMX, GRT, NEAR, and ICP also made it to the list of top gainers for the week, with gains ranging from 9% to 14%. However, some altcoins such as TON, BNB, and TRX experienced slight declines in value. The total crypto market cap surged to $2.550 trillion, marking a weekly increase of over $150 billion.
Overall, the past week was a bright one for both Bitcoin and altcoins, with significant price surges across the market. While Bitcoin reached new heights and stayed strong around the $67,000 mark, altcoins like SOL and LINK stole the show with impressive double-digit gains. The total crypto market cap also saw a substantial increase, showcasing a positive sentiment in the market. As the crypto industry continues to evolve, investors are closely watching these developments to capitalize on potential opportunities.