Crypto Weekly Recap: ETH Shines, BNB Hits New High, BTC Retreats

Another tumultuous week has swept through the cryptocurrency markets, with signs pointing to a shift as altcoins take center stage. Bitcoin, which started last week at an impressive all-time high of over $123,000, has seen a swift decline, pulling back almost immediately by around $7,000. This week, BTC has been mired in sideways trading, stuck within a tight range between $117,000 and $120,000. Attempts for a breakout have been repeatedly met with resistance, culminating in a sharp drop following the news that Galaxy Digital offloaded $1.5 billion in BTC. As a result, Bitcoin’s price fell below $115,000 for the first time in two weeks. Despite some recovery efforts, BTC is struggling to reclaim the $116,000 mark and is down more than 2.5% for the week.

Conversely, altcoins have been thriving. Notably, Binance Coin (BNB) surged to a new all-time high, surpassing the $800 mark before a slight pullback. Meanwhile, Ethereum has gained significant ground, flying to a peak of $3,850 earlier this week, likely driven by strong inflows into spot Ethereum ETFs. Currently, ETH remains positive, up 1.2% on the week, trading just below $3,700. While this altcoin momentum has sparked speculation about an upcoming altseason, recent violent corrections in assets like XRP, XLM, and HBAR have tempered those expectations.