This Week’s Best-Performing Altcoins Revealed as Bitcoin (BTC) Eyes $70,000 (Weekend Watch)

Bitcoin is having a relatively quiet weekend, but its price is still gradually approaching the $70,000 mark.

Most alternative coins are also rather sluggish on a daily basis, but the weekly charts show impressive gains from companies like SHIB, DOGE, SOL, ETH and BNB.

BTC challenges $70,000 again?

This past weekend was also quiet for BTC as the asset settled below $62,000. However, Monday started on a positive note and the cryptocurrency rose by more than six grand by Tuesday morning.

In the afternoon, the bulls initiated another increase that resulted in the previous all-time high set in November 2021 being broken. What followed was a massive rejection that pushed BTC down by almost ten grand.

Nevertheless, Bitcoin began to recover quite quickly, rising to $67,000 in less than a day. Another surge occurred on Friday afternoon, with BTC rising above $70,000 for the first time ever. But once again, the bears quickly intercepted the move and drove it downward.

Since then, the BTC price has been slower, but has gradually increased from $70,000 to just $500. Its market cap has risen to over $1.360 trillion on CoinGecko and its dominance over altcoins is 49.4%.

BTCUSD. Source: TradingView

Top weekly winners

The past day was rather uneventful for most alts, so let's focus on the weekly performances. The second-largest cryptocurrency has been on a tear lately, up more than 15% since last Sunday and trading at just under $4,000.

Binance Coin hit a multi-year high and a 22% surge took it to just over $500. Solana is close to $150 after a 15% weekly increase. Polkadot's gains are quite similar and DOT is now above $10.

The week belonged to the meme coins – especially Shiba Inu, PEPE and Floki. The frog-inspired meme coin is up 120% in the last seven days, FLOKI is up 82%, while SHIB is up 65% and has approached Dogecoin in terms of market cap dominance.

The total crypto market cap is up to $2.763 trillion on CoinGecko after adding nearly $300 billion in a week.

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

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