๐ Weekly Market Overview โ Volatility Returns as Bulls & Bears Battle!
The crypto market saw a whirlwind of action this week! After a brief rally, Bitcoin (BTC) faced resistance near $71K and corrected slightly, currently holding above $69K โ a key psychological level. Ethereum (ETH) followed suit, hovering near $3,650 as traders await clarity on ETF approvals.
๐ฅ Memecoins like PEPE and DOGE spiked midweek but cooled off after short-term profit-taking. Still, volume remains strong โ signaling trader interest isnโt fading.
๐ Altcoins were a mixed bag. SOL and AVAX showed resilience, while BNB continued to gain steady traction after recent ecosystem upgrades. Binance Smart Chain remains active with new project launches, drawing in DeFi and NFT attention.
๐ On-chain data shows increased whale accumulation in BTC and ETH, suggesting long-term bullish sentiment. Meanwhile, funding rates across futures markets suggest a possible short squeeze could be on the horizon.
๐๏ธ As we move into next week, all eyes will be on macro news (Fed updates) and Ethereum's ETF developments. The weekend may bring lower liquidity โ so expect price swings!
โIn crypto, patience and positioning are everything. This week reminded us โ the market never sleeps.โ
