BTC Hit 3-Month High, ETH Topped $2.4K, XRP Soared 40% in 48 Hours: Weekly Crypto Recap
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After weeks of sideways action, BTC suddenly broke out and skyrocketed to fresh peaks, signaling a bullish breakout for the crypto market and potential upside for spot and derivatives markets. Just days earlier BTC had slumped to a ten-day low of $62,500 despite positive US CPI data, highlighting prior selling pressure and market uncertainty before the rally.
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Oh, what a week it was in the cryptocurrency (and not only) markets. We will dig into all of that as finally, after weeks (and even months) of sideways action without any clear indication of a breakout, BTC skyrocketed to fresh peaks.
But before we go into details on that, let’s rewind the clock to last Friday, when the primary cryptocurrency was struggling a lot. Despite the positive US CPI data from a few days back, the asset slumped to $62,500 to mark a ten-day low. Again, little to no indication of what was about to happen soon.
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