CRO Skyrockets, ETH Crashes Post-ATH, and BTC Battles $110K: Your Weekly Crypto Recap
The post CRO Skyrockets, ETH Crashes Post-ATH, and BTC Battles $110K: Your Weekly Crypto Recap appeared on BitcoinEthereumNews.com. We publish these weekly overall recaps each Friday, and a lot happened just hours after our previous one. At the time, bitcoin’s price had just retraced to under $112,000 after a week of downward pressure in anticipation of Jerome Powell’s speech from Jackson Hole. As the Fed Chair hinted about potential rate cuts as soon as September, BTC reacted with an immediate surge that drove it north by over five grand to over $117,000. Most altcoins followed suit, including ETH, which finally broke its previous all-time high and set a new one at around $4,900. However, these relief rallies were short-lived. The weekend was calm at first, with BTC retracing to $115,000, but then came Sunday evening, and the landscape changed for the worse. Before it did, though, ETH jumped to another ATH of $4,950, and then the entire market crashed within minutes, leaving over $300 million in longs liquidated in just one hour. After a brief bounce on Monday, the bears resumed control once again and drove bitcoin to its lowest position in almost seven weeks, at just under $109,000 on Tuesday morning. The fight for supremacy has continued ever since, with the bulls taking BTC to a weekly peak of $113,600 yesterday, only to lose the battle as the asset dipped below $109,500 earlier today. It has regained some traction now and stands above $110,000, but the overall market structure seems rather shaky. Its market cap has dropped to $2.2 trillion after a 1.5% weekly decline, while its dominance over the alts stands at 56.4%. Even ETH, which has been a top performer as of late, has lost a big chunk of its value since its peak on Sunday evening and currently fights for $4,400. In contrast, CRO became the top gainer this week, but more on this…
The post CRO Skyrockets, ETH Crashes Post-ATH, and BTC Battles $110K: Your Weekly Crypto Recap appeared on BitcoinEthereumNews.com.
We publish these weekly overall recaps each Friday, and a lot happened just hours after our previous one. At the time, bitcoin’s price had just retraced to under $112,000 after a week of downward pressure in anticipation of Jerome Powell’s speech from Jackson Hole. As the Fed Chair hinted about potential rate cuts as soon as September, BTC reacted with an immediate surge that drove it north by over five grand to over $117,000. Most altcoins followed suit, including ETH, which finally broke its previous all-time high and set a new one at around $4,900. However, these relief rallies were short-lived. The weekend was calm at first, with BTC retracing to $115,000, but then came Sunday evening, and the landscape changed for the worse. Before it did, though, ETH jumped to another ATH of $4,950, and then the entire market crashed within minutes, leaving over $300 million in longs liquidated in just one hour. After a brief bounce on Monday, the bears resumed control once again and drove bitcoin to its lowest position in almost seven weeks, at just under $109,000 on Tuesday morning. The fight for supremacy has continued ever since, with the bulls taking BTC to a weekly peak of $113,600 yesterday, only to lose the battle as the asset dipped below $109,500 earlier today. It has regained some traction now and stands above $110,000, but the overall market structure seems rather shaky. Its market cap has dropped to $2.2 trillion after a 1.5% weekly decline, while its dominance over the alts stands at 56.4%. Even ETH, which has been a top performer as of late, has lost a big chunk of its value since its peak on Sunday evening and currently fights for $4,400. In contrast, CRO became the top gainer this week, but more on this…
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