The past week has been quite eventful for the cryptocurrency market, with Bitcoin leading the charge. Despite not being the top performer, Bitcoin surged by an impressive 11% over the past seven days. The price chart shows a steady upward trend since July 14th, with BTC trying to break the $68K level but facing resistance from bears. Currently, Bitcoin is undergoing an intraday correction, trading below $67K. However, its strong performance has significantly boosted market sentiment, with the overall sentiment now leaning towards Greed compared to Fear last week.
In a surprising turn of events, meme coins have dominated the list of best performers in the last seven days. Topping the list is the cat-themed meme coin POPCAT, which saw a staggering 60% increase in value. Following closely behind are dogwifhat. WIF with a 53% increase, PEPE with 33.6%, and FLOKI with 33.4%. Other notable mentions include Arweave (AR) and Core (CORE) with gains of 40% and 37% respectively. Additionally, coins like INJ, BONK, JUP, RUNE, TAO, and Mantra’s OM also recorded significant increases of around 30%.
The majority of cryptocurrencies experienced positive growth over the week, contributing to the overall market capitalization reaching $2.55 trillion. However, a few altcoins such as UNI, AAVE, TRX, TON, ADA, and EGLD ended the week in the red, with UNI being the worst performer at a mere 5% decrease. Despite these minor setbacks, the market as a whole has shown resilience and continues to attract investors with its promising gains.
The past week has been a favorable period for cryptocurrencies, with Bitcoin showcasing strong performance and meme coins taking the spotlight. The overall market sentiment has improved significantly, indicating growing confidence among investors. While some altcoins experienced minor losses, the market remains optimistic and poised for further growth in the coming weeks.
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