The cryptocurrency market witnessed mixed performances over the weekend, with Bitcoin (BTC) taking a breather after its recent rally. The flagship cryptocurrency, which had touched a two-month high of $66,500 on Friday, has since retraced slightly, settling around $65,500. Despite this minor pullback, Bitcoin maintains a 4% weekly gain, with its market dominance hovering at 53.9%. The slight decline comes even as spot Bitcoin ETFs in the United States continue to see significant inflows, highlighting the complex dynamics at play in the crypto market.
While Bitcoin consolidates, Ripple’s XRP token has emerged as a standout performer. XRP surged by 6% in the past 24 hours, reaching $0.63 – its highest level since August 8. This impressive run comes amid broader market uncertainty, positioning XRP as a focal point for traders and investors. Meanwhile, Dogecoin (DOGE) also bucked the trend, gaining over 3% and trading above $0.125, fueled by speculation of a potential rise to $0.15.
The broader altcoin market, however, has seen modest corrections. Ethereum (ETH) and Binance Coin (BNB) both experienced slight declines of just over 1%, trading at $2,646 and $595, respectively. Other notable cryptocurrencies such as TON, Avalanche (AVAX), and Shiba Inu (SHIB) saw more significant drops of up to 3%. This mixed performance has led to a $30 billion decrease in the total cryptocurrency market capitalization, which now stands below $2.4 trillion. As the market continues to evolve, investors remain vigilant, balancing optimism from recent gains with caution over short-term fluctuations.
