Last week Bitcoin grabbed headlines once again as the price of Bitcoin skyrocketed over $84,000, with the highest price hitting over $84,711. However, even with all of the downturns in more mainstream markets, the increase was significant. The Nasdaq 100 was down just 0.2% on the week, with the Dow Jones falling further, down 1.4%. The cryptocurrency market cap has increased to $2.66 trillion, reflecting the growing interest in digital assets amid uncertainty in traditional markets.
Even with Bitcoin jumping by 0.5%, the leading cryptocurrency saw its trading volumes drop significantly. 23% decrease in Bitcoin volume, going down to $22.6 billion.
Other cryptocurrencies showed varied performance. Ethereum edged up 0.3% to trade at $1,579. Price surges were observed in a number of other assets, including BNB, Solana, Dogecoin, and Cardano. XRP experienced a decline, dropping by 1.4%.
As measured by the CoinDesk Market Index (CMI), markets are up 1.4% today. This is the direction we would like to see movement in across the entire digital asset ecosystem. The total crypto market cap added about 0.8%. Unlike the substantial price jumps, the overall trading volume in the entire crypto market had an 18% drop, landing at $66.5 billion.
