The market keeps being in a lateral phase. After several attempts at USD 10’000, Bitcoin does not seem to have the strenght to make another push. Volumes are lowering more and more with each week. Still, total market capitalization is not dropping significantly and BTC’s dominance is not increasing either. In other words, we are not in a typical crypto bear market scenario.
The last seven days were positive overall for the cryptocurrency market, with all our sectors registering performances in the green. Currencies, Platforms and Tokens rose more than BTC. Tokens were the best performing sector for the third consecutive week, with Platforms a pretty close second and Currencies and BTC more distanced.
The last week was a bad one for the crypto market, which registered negative returns for the vast majority of the project in our sample. Indeed, just three projects out of seventeen posted a positive result.
The last seven days were negative overall for the cryptocurrency market, with all our sectors registering negative performances. Currencies, Platforms and Tokens fell together with BTC. Tokens were the best performing sector for the second consecutive week, although the difference in performance between sectors was minimal with respect to what we have seen in the past
The last week was a bad one for the crypto market, which registered negative returns for all the projects in our sample. Thanks to a comeback in the last day limiting damages, none of the coins finished with a double-digit loss.
The last seven days were positive overall for the cryptocurrency market, with all our sectors registering a positive performance for the second consecutive week.Currencies, Platforms and Tokens were all able to overperform BTC. After a week of Platforms’ dominance, Tokens are back in full swing as the best performing sector according to our indexes. Platforms still managed to hold the second spot, while Currencies were the worst-performing sector, having been affected by a subpar BTC performance.
BTC dominance keeps falling in in a context in which BTC itself is struggling to cross and keep the USD 10’000 level, but at the same time is not giving any sign of consistent weakness. In this scenario, altcoins are taking the center stage and the attention of investors. Altcoins’ overperformance is going on since almost a month now and an Altseason scenario could not be so difficult to imagine at this point.
Currencies and Platforms were able to overperform BTC, while Tokens ranked last and marginally underperformed it. Platforms’ performance was mainly due to two coins offering a very positive result overall, and thus skewing the result. That said, Platforms gut us used to that behavior in the last months and were coming from a relatively quiet period, so this performance was due to happen first or then.
The last week was a moderately good one for the market, which is currently in a lateral/consolidation phase in which some of the altcoins are significantly recovering ground with respect to BTC and BTC itself is seemingly still experiencing an uptrend. Legacy financial markets are not shrugging off the levels reached with the post-March rebound and are actually testing relative period highs. This week, Goldman Sachs even released a report casting shadows on BTC’s future.
Currencies, Platforms and Tokens were able to overperform BTC overall. Despite this, BTC dominance remained pretty much stable during the week at 65%. Some very good performers in the Tokens and Platforms sectors skewd the respective indexes’ results, which are overall not as good as the past week’s.