itcoin">Bitcoin experienced a highly volatile weekend, its most turbulent in over a year. After setting a new all-time high of $72,760 on March 14th, itcoin">Bitcoin plunged to $64,550 before recovering to around $68,300 at the time of writing. Price swings of 3-7% rocked the market throughout the weekend.
While itcoin">Bitcoin faced turbulence, the Solana blockchain shone brightly, surging an impressive 36% over the past week. Solana outperformed major cryptocurrencies like Dogecoin, Cardano, and Ethereum, which have yet to regain their recent highs.
Apart from itcoin">Bitcoin and BNB Chain, no other digital assets currently trade within 20% of their respective all-time highs, underscoring the market’s overall bullish trajectory.
The weekend volatility contrasted with the relatively calm weekends observed since the launch of US itcoin">Bitcoin ETFs earlier this year. Historically, flat weekends were common throughout 2023, as depicted by charting data.
Despite the price swings, itcoin">Bitcoin’s fear and greed index remains in the “extreme greed” zone, reflecting sustained bullish sentiment, though slightly tempered from last week’s peak levels.
As the US market prepares to open, traders anticipate a potential 2% gap down if crypto prices hold steady over the next 16 hours.
The total crypto market capitalization currently stands at $2.59 trillion, with itcoin">Bitcoin commanding a 51.82% dominance. As the market evolves, participants brace for further volatility, exemplified by itcoin">Bitcoin’s recent wild price action.
