Weekly Analysis: Markets Gain Big as Bitcoin Dominates

2023-06-25 10:35:09

This week has seen several rallies, with several cryptos making massive gains. Bitcoin (BTC) has had a relatively fruitful week recording a notable weekly gain of 15% as the asset now trades at $30.7. Bitcoin has a current market cap of $596,381,470,825 as the trading volume stood at $8,641,261,835 as of press time.

Bitcoins volatility for the week has been relatively stable as the Bollinger bands now move close to each other. BTC’s relative strength indicator is now moving above its average line, indicating a bullish trend on BTC as the MACD indicator also bridges the positive region, showing the effort by bulls over the week to acquire market dominance from the bulls.

BTC 1-week chart | Source: TradingView## Altcoin analysis

Ethereum (ETH) has also had a rather fruitful session as the asset’s weekly gain now stand’s at 10.5% as it trades at $1,912. Ethereum has a current market cap of $229,870,342,378, as the trading volume now stands at $6,016,116,164.

ETH 1-week chart | Source: CMCRipple (XRP), however, had a relatively slow week as the asset only boasts a 1.5% gain for the week. Ripple, now trading at $0.49, has a current market cap of $25,607,317,792 as the trading volume stood at $707M.

Other altcoins have also had fruitful weeks, with Cardano (ADA) gaining 10% weekly. Dogecoin (DOGE) has also recorded a rather fruitful session recording a gain of 9% for the week. Solana (SOL) has, however, shown great dominance over the week as the asset now trades at $21.

Polygon (MATIC) also had a good week as the asset now trades at $0.67, representing a 9% gain in price valuation. This comes as Tron also ad a fruitful week, recording gains of 3% to take its price to $0.073.

Wrapped Bitcoin (WBTC) has, however, been among the week’s top gainers as the asset now sits on a 15% weekly gain as the asset now trades at $30,730, as the market cap currently stands at $4,846,515,662.

WBTC 1-week chart | Source: CMCAnother notable gainer for the week is Woo Network gaining 16% as the asset now trades at $0.218 with a market cap of $374,371,017. The asset also had a trading volume of$9,779,228 as of publication

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