Worst-Performing Altcoins This Week as BTC Battles to Hold $80K: Weekend Watch

The weekend is not going in the typical calm manner as BTC dipped to a 5-week low of $79,100 on Saturday before it staged a notable comeback. Most altcoins followed suit, and we will also talk about their weekly movements, as there are some painful declines. It’s safe to say that the past week or so didn’t go quite well for the primary cryptocurrency, aside from a brief uptick on Wednesday. Bitcoin tanked after the CPI and PPI readings from the previous week to just under $80,000 but managed to rebound quickly to $82,600. Another rejection followed, but the bulls managed to keep the asset above $80,500. The start of the new business week led to another attempt at $83,000, but BTC was halted again, and it dropped to $81,000. A sudden price pump on Tuesday and an even more profound surge on Wednesday drove the cryptocurrency to almost $85,000 for the first time in approximately two weeks. However, the predominantly bearish market sentiment prevailed once again, and bitcoin nosedived quickly. It first dipped below $83,000 before it crashed to under $81,000. It remained there at the end of the week before it suddenly plunged to $79,100 (on most exchanges) on Saturday. Permanent critic Peter Schiff was quick to predict another drop to $75,000, but BTC defied him (again) and jumped to $80,900. It was stopped there and is currently fighting to stay above $80,000. Its market cap has declined to $1.610 trillion on CMC, while its dominance over the alts remains at 60%. The weekly charts are quite painful for most altcoins. Ethereum is down by nearly 4% and now struggles at $2,330. XRP continues to trade below $1.30, while SOL is down to $101 after a 3% drop. Even more violent drops come from the likes of NEAR (-11.4%), RAIN (-12.7%), TAO (-8%), QNT (-8.6%), BTW (-28%), AVAX (-10.5%), DOT (-8.3%), AAVE (-12%), and HBAR (-13.5%). In contrast, PEPE has soared by 13%, while M, even though it’s down by 15% in the past 24 hours, has soared by 25% weekly. XMR, ZEC, and BNB are also slightly in the green. The total crypto market cap has broken below $2.7 trillion on CMC after another 0.4% decline since yesterday. The post Worst-Performing Altcoins This Week as BTC Battles to Hold $80K: Weekend Watch appeared first on

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