Bitcoin Defends $34K, Chainlink and Aptos Soar by 6% (Weekend Watch)

Bitcoin’s price slipped under the $34,000 level but the bulls managed to intercept the move and the asset stands just north of it as of now.

Several altcoins have outperformed the largest cryptocurrency, including Chainlink, Aptos, and Cardano.

BTC Back Above $34K

Bitcoin is at the end of one of its most favorable and positive trading weeks in a long time. It all began on Monday when BTC finally reclaimed decisively the $30,000 level. By the end of the day and on Tuesday morning, the landscape got even better with a massive price surge that drove the cryptocurrecy to its highest price tag in roughly a year and a half at $35,200.

This came amid ongoing speculations about the potential approval of BlackRock’s spot Bitcoin ETF application and a mystery with the ticker. It also drove the Fear and Greed index into a deep ‘greed’ territory.

BTC started retracing slightly after that multi-month peak but went back on the offensive on Thursday when it tapped $35,000 once more. Nevertheless, it failed to conquer it and the subsequent rejection pushed it south to under $33,500 yesterday.

The asset managed to bounce off rather quickly and currently trades just over $34,000. Its market capitalization has slipped to $665 billion, and its dominance over the alts has taken a slight hit being down to 52.9%.

BTCUSD. Source: TradingView## LINK, APT on the Rise

Toncoin and Dogecoin have declined the most from the larger-cap alts on a daily timeframe – by 2-3%. As a result TON is close to breaking below $2, while DOGE is just under $0.07.

In contrast, ETH, BNB, TRX, MATIC, DOT, and LTC are with minor gains. Cardano has jumped by 3.6% and sits close to $0.3, while LINK has soared by over 5% and trades above $11.

More gains come from the likes of APT (6%), NEAR (5.5%), ICP (3.5%), and VET (2.5%).

Overall, though, the total market cap has remained relatively still at around $1,250 trillion.

Cryptocurrency Market Overview. Source: Quantify Crypto