Filecoin Up 70% Weekly, Bitcoin Rejected at $25K: Market Watch

Filecoin Up 70% Weekly, Bitcoin Rejected at K: Market Watch


Bitcoin tried its hand at overtaking $25,000 once again in the past 24 hours but was stopped in its tracks and is back down to $24,500 as of now.

Most alternative coins have calmed following the recent enhanced volatility, aside from Filecoin, which has produced yet another double-digit price surge.

Bitcoin Fails at $25K

Bitcoin went through a highly-volatile trading week, having surged past $25,000 for the first time since August last year and then dumping by roughly $2,000 hours later.

The bulls stepped up on the gas pedal in the following day or two, pushing the asset to just over $25,000 once again. However, that was short-lived, and BTC retraced back down below that line.

The asset remained calm at around $24,500 on Saturday and initiated another leg up towards $25,000 later on the day but failed once more.

As of now, the cryptocurrency stands at the same familiar ground. Its market capitalization remains calm at $475 billion, and its dominance over the altcoins is still at 42.5%.

BTCUSD.  Source: Trading View
BTCUSD. Source: Trading View

FIL Keeps Going Up

Although most alternative coins were highly volatile during the week, the past seven days belong to Filecoin. FIL registered three consecutive days of double-digit price increases, with the past 24 hours bringing another 18% surge. Overall, the asset is up by more than 70% for the same timeframe.

Chainlink, HBAR, VET, and GRT are the other notable gainers from the larger-cap alts, all of which have increased by around 7% in a day.

The top 10 altcoins are a lot calmer today. Ethereum, Binance Coin, Ripple, Polygon, OKB, and Shiba Inu are with minor price declines, while Cardano, Dogecoin, Polkadot, and Solana have charted insignificant gains.

The cumulative market capitalization of all cryptocurrency assets has remained relatively calm at just over $1.1 trillion on CMC.

Cryptocurrency Market Overview.  Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto

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Cryptocurrency charts by TradingView.


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