As a result of the past week, the coins in the top 10 largest cryptocurrencies by market capitalization demonstrated positive dynamics.
Bitcoin ($BTC ) began the morning of May 7 with an approach to local maxima above the mark of $97,700. Another wave of growth occurred against the backdrop of positive news regarding trade negotiations between the USA and China. Bitcoin then approached the psychologically important level of $100,000 following another decision by the Fed on interest rates. Jerome Powell acknowledged that the accumulated trade risks require a cautious approach. Investors see cryptocurrency as a hedge against a potential recession in the USA.
Already the next day, May 8, the growth of Bitcoin's price accelerated after US President Donald Trump announced progress in trade agreements with several countries. Bitcoin (BTC) surpassed the mark of $100,000 for the first time since February. The bulls managed to confidently establish themselves above the round level. According to Coinmarketcap, at the time of writing, BTC was trading around $104,109 with an intra-week increase of 9%.
Ethereum ($ETH ), unlike BTC, concludes the week with a more pronounced increase of 35.22%. The currency also managed to overcome its psychological barrier of $2,000 and establish itself above it.
At the time of writing, the token was trading around $2,472. The intra-week increase was sufficient for it to become the leader in growth among the top 10 largest cryptocurrencies.
Hot on its heels is Dogecoin ($DOGE ). Interestingly, in the previous week, it was the biggest loser in the top ten. Now it has risen by 33.16% over 7 days to $0.2306 at the time of writing. However, technical analysts at BeInCrypto warn: this rally may face difficulties as long-term holders (LTH) have started actively selling the asset.
