This Week Spotlight: Solana, LINK Outshine as Bitcoin Stabilizes at $67K

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This Week Spotlight: Solana, LINK Outshine as Bitcoin Stabilizes at $67K
  • Bitcoin reclaims the $67K threshold following the U.S. CPI report for April.
  • Solana, LINK, and FTM registered double-digit percentage growth this week.
  • However, WIF and TON experienced the most significant drop among the larger-cap altcoins.

The cryptocurrency market has witnessed a relatively calm period, with Bitcoin (BTC) consolidating around the $67,000 mark. After a brief dip to $60,000 last Friday, the premier digital asset has shown resilience, bouncing back significantly following the U.S. CPI announcement for April.

Bitcoin’s journey saw it climb to over $63,000 at the start of the week, only to experience a minor pullback to $61,200 prior to the CPI data release. However, the figures acted as a catalyst, propelling BTC to a high of over $66,500, a price point not seen since mid-April. 

Although there was a slight retracement, the bulls maintained their momentum, nearly touching $67,500. Currently, Bitcoin’s market cap stands at $1.320 trillion, commanding a 51.7% dominance over altcoins.

Amid Bitcoin’s movement, certain altcoins have made impressive strides over the week. Solana (SOL) has surged by 18.85%, reaching a multi-week peak above $175.78. Similarly, Chainlink (LINK) has witnessed a 23% increase, approaching $16.79. 

Other notable weekly gainers among the most prominent assets include Avalanche (AVAX), which has registered a 15% growth, having reclaimed $37.73. Also, NEAR and Bitcoin Cash (BCH) recorded a 13% gain, while Fantom (FTM) saw a more substantial 23% uptick.

On the flip side, Dogwifhat (WIF) has experienced the most significant drop among the larger-cap altcoins, shedding over 14.47% of its value over the past week. Likewise, Toncoin (TON) saw a comparable loss of 9% in its one-week trajectory. BNB, Optimism (OP),  and Tron (TRX) have also seen marginal losses.

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