Bitcoin (BTC) has continued to trade above $100,000 for over 40 days but closed the week at $103,355, representing a decrease of 1.3%. Meanwhile, Bitcoin Cash (BCH) outpaced the broader market with nearly a 10% gain, reaching over $476 as of June 21 at 12:20 PM Eastern Time.
BTC Holds Steady Amid Global Tensions
In the week that surpassed 40 days of trading above $100,000, Bitcoin (BTC) finished the week at $103,355, which is 1.3% lower.
Although the escalating conflict between Israel and Iran and the associated risks have unsettled the markets, BTC, like other traditional assets and markets, largely remained unflinching.
In fact, as the conflict escalated at the beginning of the week, BTC went up, peaking just below $109,000 on June 16. However, about 24 hours later, the cryptocurrency fell to $103,645 before recovering and trading between $104,000 and $105,000 over the next three days.
Like BTC, several other major digital assets closed the week in the red, with Hyperliquid losing 19%, the largest decline among the top 20 digital assets.
AVAX and SUI became the next biggest losers, falling by 9.9% and 10% respectively, followed by DOGE, which dropped by 9.2%. ADA, which was trading around $0.83 on May 23, ended the week at $0.5744, down 8.6%.
Meanwhile, BCH topped the list of the biggest gainers this week, rising nearly 10% and closing just above $476. Since the drop on June 5 to $382.22, BCH has now risen nearly 24%, making it one of the best among the top 20 digital assets in June.
Other notable increases this week include WBT, which rose by more than 25%;
SEI (28%); and KAIA (26%).
SNTR became the biggest gainer of the week, rising nearly 800%,
while ZKJ saw the largest drop after a decline of 85%.