Although the previous week was much more eventful and volatile due to the escalating global trade tensions between the US, China, and other nations, this one also had some notable events that we need to discuss. Recall that bitcoin’s price ended last week on a positive note, after dumping below $75,000 to mark a five-month low. The tariff pause for almost all countries (aside from China) led to a significant bump on Thursday and Friday, and BTC entered the weekend at around $82,000. Unlike the previous one, last weekend was even mildly bullish as bitcoin jumped to $85,000 on Sunday evening. It continued its ascent on Monday by tapping $86,000, where it faced immediate rejection. Although it dropped by $3,000 within a day, it went back on the offensive later that day and jumped to a multi-week peak of $86,500. However, another rejection followed that brought a similar decline. Wednesday saw some more muted volatility (compared to the previous week) when BTC aimed at $86,000 but was quickly stopped by Fed Chair Jerome Powell’s hawkish comments about the interest rates, as well as highlighting the dangers of the tariff war. Nevertheless, bitcoin has remained range-bound and its price now stands between $84,000 and $85,000 as it has been throughout most of the week. Although some altcoins, such as Bitcoin Cash and Solana, have outperformed BTC on a weekly scale, the largest cryptocurrency’s market dominance has only strengthened lately. It has surpassed the 60% mark on most data aggregators, just like it did four years ago. However, this time it carries a lot more weight due to the existence of millions of coins, unlike in 2021. Market Data Cryptocurrency Market Overview. Source: QuantifyCrypto Market Cap: $2.75T | 24H Vol: $60B | BTC Dominance: 60.9% BTC: $84,450 (+2.3%) | ETH: $1,585 (+1.2%) | XRP: $2.06 (+3%) This Week’s Crypto Headlines You Can’t Miss Bitcoin Whales Have Been Buying ‘Like Never Before:’ Analyst. It appears that large Bitcoin investors, holding between 1,000 and 10,000 BTC, have been accumulating aggressively over the past two months. This comes despite the range-bound price action, highlighting increasing investor confidence among whales. White House Mulls Bitcoin Reserve Backed by Gold and Tariffs. Bo Hines, the Executive Director of the President’s Council of Advisers on Digital Assets, said that the current US administration is looking into the creation of a national Bitcoin reserve. The caveat is that it would be funded by alternative government revenue streams like tariffs. Bitcoin (BTC) May Be Entering a Wait-and-See Phase: Here’s Why. Bitcoin’s realized capitalization is around $872 billion. However, cautious investor behaviour and relatively slower growth hint that the market may be entering a phase of consolidation. Bitcoin ETFs, Corporate Buyers Are Quietly Stabilizing BTC Prices: Analyst. Bitcoin’s price experienced heightened volatility last week, but according to an analyst, corporate whales (like Strategy) and Bitcoin ETF buyers are responsible for stabilizing the price. BASE Token Dumps and Pumps as ‘Content Coins’ Spark Debate. The popular Ethereum L2, Base – a protocol incubated by Coinbase – launched a token called Base is For Everyone (BASE). Although not explicitly a meme coin, it sparked considerable controversy as reports emerged of people turning massive profits. Trump Threatens to Fire Fed Chair as Crypto Traders Wait for FOMO. President Donald Trump accused the chairman of the US Federal Reserve, Jerome Powell, of failing to assess the current economic situation in the country properly, particularly in terms of not lowering interest rates amid reportedly declining inflation. Charts This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hype, and Solana – click here for the complete price analysis. The post Bitcoin’s Market Dominance Skyrockets Amid Global Economic Uncertainty: Your Weekly Crypto Recap appeared first on CryptoPotato .
