\n\t\t\t\t\t\t\t\t\tVELVET has entered the top 100 alts after a massive 150% weekly surge. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin\u2019s week-long correction drove the asset to a new local low of $62,500, where it finally found some support and now sits at around $63,000.<\/p>\n
Most larger-cap alts have experienced little to no volatility on a 24-hour scale, aside from LINK and WLFI, both of which are up by over 5%.<\/p>\n
BTC Calms at $63K<\/h2>\n
After a very stagnant previous weekend, bitcoin tried to break out<\/a> on Monday morning, but it was immediately halted at $65,400. This was the second rejection at that level in the past three days. However, this one was more violent as BTC dipped to $62,800 within hours.<\/p>\n It tried to bounce off twice, but it was stopped at $64,400. Each subsequent leg down was more painful than the previous. The bears took complete control of the market by mid-week, and the selling pressure intensified in the following days. The culmination took place on Friday when BTC slumped<\/a> to $62,500 for the first time in 10-11 days.<\/p>\n It finally bounced off in the following hour, but it was stopped at $63,200 and now struggles at $63,000. Its market capitalization has stalled at $1.260 trillion on CG, while its dominance over the alts, which peaked at 57.3% earlier this week, is now down to under 57%.<\/p>\n Analysts have been quite optimistic<\/a> about LINK\u2019s future lately, often predicting massive rallies. The first breakout attempt has taken place as the asset is up by over 5% daily and has reclaimed the $9 support. WLFI is the only other notable gainer from the larger caps, while UNI has dumped by 5%.<\/p>\n In contrast, XRP, SOL, TRX, HYPE, and RAIN are slightly in the red, while ETH, BNB, and DOGE have marked insignificant gains.<\/p>\n VELVET has entered the top 100 alts. It has soared by 25% daily and by roughly 150% in the past week. ETHFI follows suit, surging by 12% daily. OKB completes the top 3 price gainer club with a 6.5% jump.<\/p>\n The total crypto market cap is down to under $2.230 trillion on CG.<\/p>\n \u00a0<\/p>\nLINK Tries to Break Out<\/h2>\n
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