BTC Hits New ATH, ETH Pushes Higher as Trump-Putin Meeting Grabs Spotlight: Your Weekly Crypto Recap
Main Idea
The cryptocurrency market experienced significant volatility with Bitcoin reaching new highs followed by a correction, while altcoins like BNB, SOL, and ADA also showed notable gains.
Key Points
1. Bitcoin's price surged to a new all-time high of $123,200 but later corrected to below $119,000 due to hot PPI data for July.
2. BNB set a new record at $865, while other altcoins like SOL, HYPE, LINK, and ADA also saw weekly gains.
3. MicroStrategy purchased 155 BTC for $18 million, and Metaplanet added 518 BTC for over $61 million.
4. Bitcoin's dominance dropped from 62% to under 58%, signaling potential altseason.
5. Terraform Labs’ CEO Do Kwon pleaded guilty to the collapse of Terraform and will forfeit $19 million in proceeds.
Description
It was another historic week for the cryptocurrency market as bitcoin, as well as a few altcoins, managed to chart fresh peaks. But let’s begin with the largest digital asset. Just last week, its price struggled to maintain above $117,000 and even dipped below that level on a couple of occasions. However, it had a solid weekend in which it added a few grand and jumped toward $119,000. The beginning of the current business week was a lot more promising. On Monday alone, the cryptocurrency spiked ...
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