Market Wrap: Bitcoin Extends Losses While Traders Remain Bullish on Ether

Market Wrap: Bitcoin Extends Losses While Traders Remain Bullish on Ether

Cryptocurrencies were mostly lower on Friday aside from a few standouts such as Terra’s LUNA token, which was up about 9% over the past 24 hours. Bitcoin was trading at the lower end of its weeklong trading range around $53,000 at the time of publication, which is below its $1 trillion market capitalization.

BTC, the world’s largest cryptocurrency by market capitalization, is up about 2% over the past week compared to a 7% gain in ether and a 13% gain in Solana’s SOL token over the same period. The dispersion in weekly returns suggests that alternative cryptocurrencies (altcoins) are starting to outperform.

Bitcoin (BTC): $53,528, -6.2%