The difficult days for Bitcoin seem to be behind us this week. Because there was a steady recovery in Bitcoin during the week.
This recovery was driven by positive US inflation data and positive statements by FED Chairman Jerome Powell. After these statements, expectations about the possibility of the FED's first interest rate cut in September also increased.
While analysts generally say that the sharp declines are behind us and that they expect a horizontal market until September, they point to the period after September for the rise.
We have seen that the greed index, which approached 80% in the past weeks, dropped to 25 (extreme fear) level with these decreases.
While the BTC price was recovering, it increased by 4.6% on a weekly basis. The largest altcoin Ethereum (ETH) drew a more positive picture compared to Bitcoin and experienced a weekly increase of 6.4%.
The recovery in Bitcoin and Ethereum was also reflected in altcoins. While some altcoins rose, others continued to fall.
According to CoinmarketCap data, it is among the top 100 coins and the most profitable ones of the week:
The top five places were Mog Coin (MOG), Maker (MKR), AAVE, XRP and VeChain (VET).
According to CoinmarketCap data, the top 100 coins that lost the most this week are:
The top three places were Render (RNDR), Akash Network (AKT) and Ethena (ENA).
*This is not investment advice.
