With trading volumes declining over the weekend, bitcoin stalled around $30,000 but still remains above that level.
Most altcoins are also sitting quietly, with ETH rising to $2,100. INJ, however, soared on a weekly basis.
BTC Spreads at $30,000
The past week has been quite eventful for the main cryptocurrency, despite its slow start. BTC remained at $28,000 on Monday, similar to the previous weekend, but the landscape started to change as the day progressed.
The bulls initiated a rise that sent BTC soaring to $29,000. Unlike previous attempts to break above this level, this one succeeded and bitcoin soared above $30,000 for the first time since June 2022. Then came the US CPI news, which again sent the asset to $30,500.
Still, that was short-lived and BTC fell $500 within minutes. Another price surge came on Friday when bitcoin surged to $31,000 and inches above to mark a new ten-month high.
The next two days were much calmer and BTC remained in a tight range between $30,000 and $30,500. Its market capitalization remains below $600 billion, while its alts dominance sits at 46.1%.
Weekly NJ Earnings
Most altcoins also saw impressive gains over the week, but have now calmed down. Ethereum was at the forefront after the successful Shapella update. ETH was trading at $1,900 at the time and broke above $2,100 to mark an 11-month high. Although slightly in the red now, ETH is still trading around this level.
The rest of the larger cap alts are also sitting quietly. Binance Coin, Ripple, Cardano, Dogecoin, MATIC, Solana, Polkadot and Litecoin are also slightly in the red or with minor gains.
Shiba Inu jumped the most among the top 10 cryptocurrencies. SHIB is up over 3% and sits at $0.000012.
Injective has gained nearly 10% in the past 24 hours and nearly 60% on a weekly scale. As a result, INJ is trading above $8.5.
The cumulative market cap of all crypto assets remained essentially the same as yesterday at just under $1.3 trillion on CMC.
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