Weekly Crypto Update: BTC Surges by $10K, BNB Hits New ATH, and ZEC Up 170%
In a dynamic week for cryptocurrency, BTC gains over $10,000 while ZEC experiences a remarkable 170% surge.
Weekly Crypto Update: BTC Surges by $10K, BNB Hits New ATH, and ZEC Up 170%
This past week brought significant changes in the cryptocurrency market, highlighted by Bitcoin’s impressive gain of over $10,000 and Zcash’s skyrocketing performance of 170%.
BTC Trend Overview
At the start of the week, Bitcoin had dipped below $109,000 after a prior rally but managed to rebound rapidly. This rally began on a Monday, with BTC climbing back up to approximately $115,000 before reaching a peak of just over $121,000, marking its highest value in over seven weeks.
BNB Sets New Record
BNB has also made headlines by achieving a new all-time high of over $1,100 earlier today, pushing the cryptocurrency market cap to new levels.
Zcash’s Performance
ZEC’s performance has been particularly remarkable, doubling to a three-year high just above $150, contributing to its significant market impact over the past week.
Noteworthy Market Developments
- MicroStrategy announces the acquisition of an additional 196 BTC, raising its total holdings to over 640,000.
- US Government Shutdown: Surprisingly, cryptocurrency markets displayed little reaction amid the government’s shutdown due to legislative disagreements.
- Kiyosaki’s Insights: Robert Kiyosaki asserts that Bitcoin remains the singular hedge against economic downturns after Buffett’s shift towards gold.
- Ethereum Withdrawals Spike: A sudden increase in withdrawals from exchanges occurred as investors moved to secure their ETH amid rising prices.
- Market Projections: Analyst Ted Pillows noted a correlation between BTC and gold prices, suggesting potential sustained growth in the upcoming months.
Market Data
| Metric | Value |
|---|---|
| Market Cap | $4.230T |
| 24H Volume | $200B |
| BTC Dominance | 56.7% |
| BTC Price | $120,350 (+9.8%) |
| ETH Price | $4,460 (+12.14%) |
| XRP Price | $3.03 (+9.4%) |
Weekly Market Overview
Weekly Market Overview: Source: QuantifyCrypto
Upcoming Analysis
Stay tuned for detailed chart analysis on Ethereum, Ripple, Cardano, and others.
Disclaimer: The information provided is for educational purposes only and does not constitute investment advice.
