BTC, BNB Set New All-Time Highs, ZEC Explodes, and US Shutdown Drags On: Your Weekly Crypto Recap

It was one other eventful week within the cryptocurrency markets, as two of the leaders managed to interrupt into uncharted territory earlier than staging a minor pullback.

But first, let’s rewind the clocks to the earlier week, which marked the start of October, typically referred to as Uptober within the digital asset group. BTC had already recovered a number of the mid-September losses, however solely doubled down and surged to $120,000 for the primary time since August. On Friday alone, it went from $120,000 to $124,000 however failed to interrupt its all-time high.

That occurred over the weekend, which is considerably shocking given the general calmer conduct throughout these days. On Sunday morning, the cryptocurrency went on a run and shot to nearly $126,000 to chart a recent peak.

After an instantaneous rejection, the bulls went on the offensive as soon as once more on Monday and propelled BTC to a brand new report, this time of over $126,000. What adopted was one other retracement, this time extra painful and lasting. Bitcoin dropped by over 5 grand in a number of hours and slipped beneath $121,000.

It tried to bounce off within the following days however was stopped at $124,000 and pushed south to below $120,000 on Thursday. As of press time, it has reclaimed that round-numbered stage and is as much as $121,000. It’s price noting that extra volatility is predicted within the following days because of the uncertainty prompted by the US authorities shutdown.

For now, although, the shortage of any optimistic developments on that entrance has benefited sure cryptocurrencies. BTC was not the one one to put up a brand new report, as BNB did the identical at nicely over $1,300 earlier than it slipped to $1,250. Still, it managed to surpass XRP. ZEC is the opposite large gainer weekly, having surged by 60%. It marked a four-year peak earlier right now at $280 earlier than it stalled at $240.

Market Data

Market Cap: $4.215T | 24H Vol: $181B | BTC Dominance: 57.1%

BTC: $121,200 (+0.8%) | ETH: $4,325 (-3%) | XRP: $2.81 (-7%)

This Week’s Crypto Headlines You Can’t Miss

Altseason Calls Intensify as Crypto Market Cap Hits Record $4.4T. As the crypto market surged on Monday to recent peaks and the whole capitalization exceeded $4.4 trillion for the primary time, the group received excited concerning the prospects of a brand new altseason.

Arthur Hayes: Bitcoin’s 4-Year Cycle Is Over, Endless Bull Run Ahead. Speaking of pleasure for brand spanking new data and regimes, Arthur Hayes believes the four-year cycle is useless. Instead, he envisions a unending BTC bull run, whereas some analysts predicted large value pumps of as much as $400,000 per bitcoin.

Ethereum Could Triple to $13,000 This Cycle If History Repeats, Analysts Say. And there’s some for the Ethereum followers. Although the asset at present struggles nicely beneath $4,300 and is but to interrupt its ATH throughout this cycle, analysts are adamant that it’ll inevitably achieve this and peak past $10,000.

Peter Schiff Predicts Bitcoin Crash as Gold Hits Record High. But there’s additionally the other facet, and who higher to supply a doom-and-gloom state of affairs than Peter Schiff? The well-known gold bug predicted one other bitcoin crash, whereas his favourite asset class hit a brand new all-time high as nicely this week at over $4,000/oz.

Analyst Insights: Bitcoin Could Drop More as Dollar Rebound Tightens Global Liquidity. Here are some extra troubling forecasts for BTC. The US greenback, which has been dropping floor for months, has rebounded previously week or so, which might really harm bitcoin’s value actions throughout this quarter.

XRP Whales Offload $50M Daily: Sell Pressure Threatens Price Drop. Ripple’s native token has failed to keep up its momentum previously week and closed with a 7% decline. What’s much more worrying is the truth that whales have been persistently selling off substantial parts of the asset every day.

Charts

This week, now we have a chart evaluation of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

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