BTC Fights Back - Time To Buy!

Bitcoin opened last week at $41,800 and selling resumed. The price broke through $40k and bottomed out at $39,650 amid a sudden spike in volumes. In a matter of hours, the price rose to $43k.

This surge of volatility has led to over $300 million in liquidations in 24 hours. After that, the price rose by $44k by Wednesday.

From there, volatility, volume, and price have declined and Bitcoin closed the week at $43k, up 2.88%.  

While there was no prevailing trend, alts on average outperformed Bitcoin as BTC dominance fell to 39%. Among large caps, BNB (+13%), ETH (+6%), and Solana (+5%) have led the way.

Smaller Layer-1 blockchains did even better, particularly Near (+48%), Fantom (+38%), and Cardano (+20%).

However, some tokens, e.g. LINK (-7.4%) continued to bleed.

VIRTUAL WALMART

Walmart filed several new trademarks that show that the retailer is planning to sell “virtual merchandise”. In separate filings, Walmart mentioned plans for “digital currency” and software “for use in managing portfolios” of various assets, including crypto.

The media widely covered NFTs projects by GAP, Under Armour, and Adidas.

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