🔊Weekly Market Highlights #96: April 29 - May 5

✨In the initial week of May, the cryptocurrency market witnessed BTC breaking its streak of seven consecutive months of growth. BTC prices dropped to their lowest point since late February before staging a robust recovery over the weekend.

✨Over the past week, the crypto market total capitalization increased by ~$47B (from ~$2,316B to ~$2,363B).

✨BTC Stopped at $64.5K
✅The beginning of May disappointed BTC bulls. BTC experienced a sharp decline following its failure to surpass $65K the day before. This significant correction pushed the asset to its lowest price in over two months, dipping to $56,5K.

✅The FED's decision to hold interest rates steady added to the volatility, with BTC experiencing a $2K pump and dump within minutes on Wednesday afternoon. Following this, a gradual price recovery began, with BTC rebounding to $59K by Friday.

✅Subsequently, the bulls initiated another upward movement, propelling the asset to surpass $62K. This upward trend peaked with a multi-day high of $64,5K.

✅However, BTC struggled to maintain momentum above this level and has retraced by ~$1K since then. Nonetheless, it continues to trade above $63K, with its dominance over altcoins nearing 53%. Meanwhile, its market cap has decreased to $1257B on CMC.

✨Altcoins Keeps Rising
✅From the top 10, DOGE was among the top performers. It jumped by another 12% in the past 7 days and now trades at $0.16.

✅The other impressive gainer from the top 50 altcoins is RNDR, which has soared to $9.85 with a 25% weekly increase. AVAX, LINK, DOT, TON, and NEAR are also in the green.

✅In contrast, BNB, ICP, LTC, and UNI have declined by somewhere between 1-4%.

✅BSCS is trading at $0,007624: +5,17% from its 7-day all-time low of $0,007249.

✨Bitcoin Fear and Greed Index is 71 - Greed, higher than at the beginning of the week (67)

✨Dominance:
✅BTC: 53.3%
✅ETH: 16.0%

📣See you next week!

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