Bitcoin Surges to $106K as Altcoins Diverge This Week

• Bitcoin holds above $105 today
• HYPE leads weekly gains among major cryptocurrencies
• TAO and CRO accumulate significant losses this week

In the last 24 hours, Bitcoin managed to sustain its appreciation and returned to trading above US$ 106 thousand, after a brief drop that led the largest cryptocurrency on the market to touch US$ 100.400.

On Friday, volatility returned to the market, with BTC trading around $500 below its weekly high. Its market capitalization was boosted to close to $2,1 trillion, while dominance against altcoins remains stable at around 61,5%.

In parallel, alternative assets have shown mixed performances over the week. The positive highlight goes to the HYPE token, which registered an increase of almost 9%, trading above US$ 35 — less than US$ 5 from its most recent peak. ICP also showed solid performance, with an appreciation of 8% over the week, followed by LEO, TRX and AAVE.

On the other hand, TAO suffered the biggest pullback, with a weekly drop of 11%, while GT and CRO fell 5,3% and 5,2%, respectively. Other cryptocurrencies such as SOL, DOGE, ADA, AVAX and SHIB are also on track to end the week in negative territory.

Despite the volatility seen among some altcoins, the total value of the cryptocurrency market grew by about $30 billion compared to the previous day, reaching $3,41 trillion. The movement indicates a slight optimism among investors, especially regarding the recent stability of Bitcoin.