Bitcoin Stopped at $70,000, FLOKI Rises 111% Weekly, Approaches Top 50 (Weekend Watch)

The price of Bitcoin remained stagnant for several days, but yesterday the asset went on the offensive, breaking through $70,000 for the first time ever and facing severe rejection a few minutes later.

Several altcoins, led by Worldcoin and FLOKI, have posted huge gains over the past day.

The rollercoaster ride of BTC

CryptoPotato reported on BTC's remarkable recent rise, culminating this week by setting new all-time highs twice in a row. First, Bitcoin shot past $69,000 on Tuesday after gaining several thousand dollars on Monday. However, the bears quickly intercepted the move and pushed the asset sharply lower. In a matter of minutes, BTC had fallen by almost ten thousand dollars, liquidating billions of dollars.

Bitcoin recouped most of its losses almost immediately and returned to $67,000 over the next few days. The second offensive came yesterday when bulls pushed BTC to just over $70,000 for the first time ever.

However, the cryptocurrency once again failed to maintain the momentum and fell again by a few thousand dollars.

Currently, BTC is trading at around $68,500, with the market cap on CoinGecko at nearly $1.350 trillion. His dominance over alts remains at 49.2%.

BTCUSD. Source: TradingView

FLOKI continues

So far, the bull market has been dominated by meme coins. As SHIB and DOGE continue to argue over who will be the biggest this cycle, FLOKI has benefited, rising more than 110% in the past week and 40% since yesterday. This brings the asset closer to the top 50 largest cryptocurrencies in terms of market capitalization.

Worldcoin is the other notable winner among the top 100 alternatives. WLD is up 42% and is now above $10 despite the controversy surrounding the project.

The Graph (25%), AGIX (20%), AR (19%) and NEAR (19%) are also well in the green. BNB, DOT, ICP, TON and SHIB have made minor gains over the past day.

ETH rose to over $4,000 yesterday but failed there and has slipped to almost $3,900 so far.

The total capitalization of the crypto market has increased significantly recently and today stands at over $2.7 trillion.

Overview of the cryptocurrency market. Source: Quantify Crypto
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Cryptocurrency charts from TradingView.

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