Ripple finally got its moment in the spotlight, while the Federal Reserve decided to keep their cards close to the chest regarding interest rates.
After last week's rollercoaster ride with prices diving to depths unseen for months, this week kicked off with a much calmer vibe. But don't let that fool you, it was packed with excitement!
Saturday and Sunday were pretty uneventful, with Bitcoin lounging around $84,000. However, things got spicy on Sunday night when a whale made a bold move with a short position, sparking some unsuccessful attempts by the crypto community to shake things up. The real action began on Tuesday when Bitcoin took a nosedive towards $81,000 but quickly bounced back, showing off its resilience.
Wednesday and Thursday were the days to watch. First, the US Federal Reserve stirred the pot by sticking to their guns on the interest rates, causing a few ripples in the crypto world. But the big news came when Ripple's CEO, Brad Garlinghouse, dropped a bombshell: the SEC lawsuit drama had finally wrapped up, with the SEC backing down on its last appeal.
Bitcoin didn't waste any time celebrating, skyrocketing past $87,000 during Thursday morning's Asian trading session, hitting a two-week high. But just as quickly as it soared, it tumbled back to $84,000.
As of now, Bitcoin's holding steady with a market cap of $1.650 trillion and a stronghold on 58.5% of the altcoin market. While Bitcoin's weekly performance is slightly in the red, coins like SOL, ADA, DOGE, and PI are feeling the heat. On the flip side, BNB and TRX are enjoying some gains, and TON has jumped up by 24% after some buzz about Durov's passport retrieval.
The crypto world is buzzing with predictions. Analyst Ali Martinez has painted two possible futures for Bitcoin: a dip to $44,000 or a meteoric rise to over $110,000. Meanwhile, savvy XRP investors have been quietly amassing their holdings just before Ripple's big SEC victory.
Ripple's CEO is not resting on his laurels; he's pushing for XRP to be included in the US's crypto reserves and is keeping the door open for a potential IPO. As for the Fed's interest rate decisions, they might not shake Bitcoin's long-term game, but they sure know how to make a short-term splash.
There's chatter about whether Bitcoin has entered a bear market. Some industry heavyweights think the bull run has hit a pause, while others are crunching numbers to see if there's truth to this.
In the world of crypto exchanges, Binance is setting the standard for transparency, maintaining over 100% reserves for 29 months straight—a nod to the importance of trust in the post-FTX landscape.
And if you're curious about the latest chart trends, we've got insights on Ethereum, Ripple, Cardano, Toncoin, and Solana. Stay tuned for more crypto adventures!
