Bitcoin Continues to Trade Above $100K as Altcoins Pick Up Steam: Weekly Cryptocurrency Summary

Bitcoin remained above the $100,000 mark this week, despite a drop to $101,500 on Thursday amid news of long-term holders beginning to sell their holdings. This comes after a surge past $105,000 following a trade deal announcement between the US and China.

Meanwhile, altcoins such as ETH, DOGE, and HYPE saw double-digit jumps, trading close to $2,600, $0.23, and $28 respectively. The market also saw significant volatility around PI following the Pi Network’s announcement of a $100 million investment fund. Despite expectations of an altcoin season, indicators suggest that Bitcoin should not be disregarded, with signs pointing towards continued growth.

Ethereum also saw a boost, with withdrawals surging to $1.2 billion weekly as its price nears a 3-month high.