🔊Weekly Market Highlights #67: October 9 - October 15

✨In the second week of October 2023, the cryptocurrency market did not record much outstanding news that could positively impact prices, causing Bitcoin and many other major currencies to have a low-volatility week.

✨Over the past week, the crypto market decreased by ~$17B (from ~$1,082B to ~$1,065B) of its total capitalization.

✨BTC Boring Around $27K
✅Last week saw BTC on an upward trend, flirting with the $28K mark. However, it faced resistance, likely influenced by global uncertainties stemming from the Israel-Hamas conflict, causing a gradual loss in value.

✅The real blow came on Monday, followed by an even sharper drop on Wednesday, pulling the leading cryptocurrency down to a multi-week low of $26.5K.

✅At this critical point, the bulls intervened, preventing further declines. Consequently, BTC initiated a recovery, surging to $27K.

✅As a result, its market capitalization remains steady at $525B. However, its Dominance over altcoins has slightly dropped to 50.0% on CMC.

✨Alts That Went Up and Down
✅LOOM has emerged as the undisputed winner regarding weekly (and even daily) gains from the top 100 altcoins. The asset has skyrocketed by 38% in the past 24 hours and well over 120% weekly. As a result, LOOM trades above $0.385 and is currently the 70th largest digital asset.

✅Klay (8%) and TWT (7%) are next regarding weekly gains.

✅In contrast, multiple coins have lost significant value in the past week. MNT leads this adverse trend with a 17% drop, followed by AVAX (-12%), DYDX (-11%), and CFX (-10%).

✅BSCS is trading at $0,008718, +4,80% from its 7-day all-time low of $0,008318.

✨Bitcoin Fear and Greed Index is 47 - Neutral, lower than at the beginning of the week (51)

✨ Dominance:
✅BTC: 50.0%
✅ETH: 17.7%

📣Stay tuned! The Market's highlights will be updated by BSCS 😎

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