Crypto Weekly (02/12 – 08/12): Bitcoin at 100k, Altcoin Season is Underway

Crypto Market Weekly Overview

The cryptocurrency market had a remarkable week marked by a historic milestone for Bitcoin. The leading digital currency officially surpassed the $100,000 threshold, setting a new all-time high (ATH) of $104,100. However, this euphoria was short-lived as Bitcoin unexpectedly plummeted over $10,000, hitting a low of $90,500, leaving many investors with significant losses. Currently, Bitcoin has partially recovered and is trading around $99,700.

An interesting aspect of Bitcoin’s new peak, coupled with a decline in its market dominance index (DOM), is the favorable conditions it created for altcoins. Several altcoins posted impressive growth over the past week.

Top 10 Gainers of the Week

Top 10 Losers of the Week

Highlights of the Week

• Binance Announces Listing of Across Protocol (ACX) and Orca (ORCA)
• SEC Rejects Applications for Spot Solana ETFs
• Bitcoin Officially Surpasses Historic $100K Mark
• Russian President Vladimir Putin Affirms: No One Can Ban Bitcoin
• OKX Announces Listing of Movement (MOVE) for Spot Trading
• Political Tensions in South Korea Prompt Immediate Negative Market Reaction

Crypto Market This Week

Token Unlock Schedule

This week, the market will witness a token unlock worth $574.8 million across several notable projects:

• $APT – $161.20M
• $STRK – $48.23M
• $MOCA – $17.36M
• $AGI – $16.09M
• $XAI – $14.38M
• $IO – $12.35M
• $HIGH – $6.61M

Macro News

For the U.S. financial market, two key events to watch in the coming week:

• Wednesday, December 11, 2024, at 13:30 (UTC): The U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI). If the data exceeds expectations, it will favor the USD, and vice versa.
• Thursday, December 12, 2024, at 13:30 (UTC): Unemployment claims data will be released. If the actual figures are higher than expected, it could negatively impact the USD, and vice versa.