Introduction
Bitcoin has settled around $90,500, concluding a week of significant volatility with unexpected calm. The primary cryptocurrency defied predictions of a turbulent Friday tied to US developments, as a key Supreme Court ruling on Trump-era tariffs was delayed. Meanwhile, the altcoin market presented a mixed picture, with Polygon’s POL token surging 17% while Zcash led losses among major assets.
Key Points
- Bitcoin's price swung between $89,000 and $95,000 during the week before stabilizing at $90,500 amid delayed US court news.
- POL led altcoin gains with a 17% surge, while ZEC dropped 12%, highlighting divergent performances among major cryptocurrencies.
- The total crypto market cap increased by $20 billion to $3.18 trillion, with BTC maintaining a dominance of nearly 57%.
Bitcoin's Rollercoaster Week Ends in Stagnation
Bitcoin began the week with a powerful surge, climbing to nearly $95,000 on Tuesday morning. This rally followed a volatile weekend where the asset successfully defended the $90,000 support level, even amidst geopolitical tension from a US military operation in Venezuela. However, the multi-week peak was short-lived. BTC faced immediate rejection, tumbling to $91,200 before a brief recovery to $94,000 was halted once again.
The downward trajectory continued through Thursday, with the price slipping to just over $89,000. Bulls managed to stage a partial recovery, pushing BTC back to $92,000 on Friday. Market participants braced for further volatility as the US Supreme Court was scheduled to release its decision on the legality of former President Donald Trump’s tariffs. When the ruling was delayed, Bitcoin’s price movement stalled, leaving it trading at $90,500 with minimal movement over the past 12 hours. Its market capitalization stands at $1.810 trillion, and its dominance over alternative cryptocurrencies remains near 57%.
Altcoin Market Shows Divergent Performance
While Bitcoin stabilized, the larger-cap altcoin market largely remained sluggish. Ethereum struggled to hold above $3,100, while Ripple’s XRP teetered close to breaking below the $2.10 level. Solana slipped to $136, and Dogecoin hovered at $0.14, all registering minor daily losses.
The standout performances, however, were at opposite ends of the spectrum. Zcash plunged 12%, making it the worst performer among major altcoins with a price of $380. In stark contrast, Polygon’s POL token skyrocketed by 17%, now trading close to $0.17. Other notable gainers included Bittensor (TAO) and Sui (SUI), while Binance Coin held above $900 and Tron traded near $0.30.
Market Cap Climbs Amid Muted Trading
Despite the lack of dramatic price action on Friday, the total cryptocurrency market capitalization saw a net increase of approximately $20 billion over the past day, reaching $3.180 trillion. This growth occurred even as the market’s attention was divided between the delayed US judicial decision and the ongoing consolidation of major assets.
The week’s events underscored the cryptocurrency market’s sensitivity to US-based regulatory and political developments, from geopolitical actions in Venezuela to domestic court rulings. However, the muted final session suggests traders are adopting a wait-and-see approach, allowing Bitcoin to consolidate above the key $90,000 level while capital rotates selectively into specific altcoins like POL, demonstrating that even in a calm broader market, significant individual asset movements persist.
📎 Related coverage from: cryptopotato.com
