Bitcoin Holds at $91K as Altcoins Show Mixed Weekly Performance

Bitcoin’s price action over the past week has been nothing short of remarkable, with the cryptocurrency staging an impressive recovery from last Friday’s multi-month low below $81,000. This plunge represented a loss of over $25,000 in just ten days, testing investor confidence and pushing BTC to levels not seen since April. The bulls finally stepped up to defend the crucial $80,000 support level, triggering a recovery that saw Bitcoin quickly bounce to $84,000 last weekend.

The more substantial gains materialized during the business week as Bitcoin initiated a leg up to $88,000 by Wednesday. Although this resistance level held initially, the bulls managed to break through that night, propelling Bitcoin past the psychologically important $90,000 mark by the end of the week. The local high came on Friday morning when BTC surged to just over $93,000, though it couldn’t sustain this momentum. The subsequent rejection drove Bitcoin back to the $90,000-$91,000 range, where it has been trading sideways for approximately 36 hours.

Bitcoin’s market capitalization has increased to $1.820 trillion during this recovery phase, while its dominance over altcoins stands tall above 57% on CoinGecko. This consolidation period around $91,000 suggests the market is digesting recent gains and establishing new support levels before its next significant move.

The weekly charts reveal impressive rebound attempts by many altcoins, though their recent performance shows significant divergence. Ethereum (ETH) and Ripple (XRP) have both gained over 7% weekly, with ETH trading at $3,000 and XRP at $2.20 respectively. Solana (SOL) has registered a 5% weekly gain, mirroring the performance of HYPE, despite HYPE being down 6% in the past 24 hours.

Several other major altcoins are well in the green on weekly charts, including Monero (XMR), Stellar (XLM), Avalanche (AVAX), Sui (SUI), Shiba Inu (SHIB), and Aave (AAVE). However, the privacy token Zcash (ZEC) stands out with particularly painful performance, plunging by over 21% since last Sunday to trade below $450. This significant decline contrasts sharply with the broader altcoin recovery and highlights the selective nature of the current market rebound.

The mixed performance among larger-cap altcoins reflects ongoing market uncertainty, with some projects maintaining their recovery momentum while others face renewed selling pressure. The divergence between weekly gains and recent 24-hour performance suggests that traders are taking profits on certain assets while maintaining positions in others they perceive as having stronger fundamentals.

The total cryptocurrency market capitalization has added over $300 billion since last Friday’s low and now stands close to $3.2 trillion. This substantial recovery represents significant capital returning to the digital asset space following the recent correction. The market’s ability to reclaim such substantial ground in just one week demonstrates the underlying strength and resilience of the cryptocurrency ecosystem.

Bitcoin’s dominance remaining above 57% indicates that the primary cryptocurrency continues to lead the market recovery, with capital flowing back into BTC before trickling down to altcoins. This pattern is typical during market rebounds, where investors first seek the relative safety and liquidity of Bitcoin before venturing into higher-risk altcoin investments. The current dominance level suggests that while altcoins are participating in the recovery, Bitcoin remains the central driver of market sentiment and capital flows.

The market’s current structure, with Bitcoin consolidating gains while altcoins show mixed performance, creates an interesting dynamic for traders and investors. The sideways movement in Bitcoin price around $91,000 provides a stable foundation for the broader market, while the divergent altcoin performances offer both opportunities and risks for those seeking alpha beyond the market leader.