The past week has been quite eventful for the cryptocurrency markets, with Bitcoin leading the way in terms of price surges. Despite facing some resistance at the $68K level, Bitcoin managed to increase by 11% over the past seven days. This upward trend began on July 14th and has been mostly positive since then. Currently, Bitcoin is experiencing an intraday correction, trading below $67K. However, its overall performance has had a significant impact on market sentiment, which is currently leaning towards Greed with a score of 74, up more than 100% from last week’s score of 33.
Meme Coins Dominate the Top Performers List
Interestingly, four out of the top six best-performing cryptocurrencies in the past week are meme coins. POPCAT, a cat-themed meme coin, takes the lead with a 60% increase, followed by dogwifhat (WIF) with a 53% gain. Other notable meme coins include PEPE with a 33.6% increase and FLOKI with a 33.4% rise. In addition to meme coins, Arweave (AR) and Core (CORE) also saw significant gains of 40% and 37% respectively.
Market Overview: Winners and Losers
While most cryptocurrencies experienced growth during the week, there were a few exceptions. UNI, AAVE, TRX, TON, ADA, and EGLD were the only altcoins in the red, with UNI being the worst performer at a 5% decrease. Despite these minor losses, the overall market capitalization grew to $2.55 trillion, adding over $150 billion in value.
The past week has been positive for the cryptocurrency markets, with Bitcoin leading the way in terms of price surges. Meme coins have also shown impressive gains, dominating the list of top performers. While some altcoins experienced slight losses, the overall sentiment remains positive as the market continues to grow and evolve.
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