This Week’s Winners and Losers in the Crypto Market
It has been a challenging week for Bitcoin as it experienced significant declines, trading between $62,000 and $53,800. This correction marked the largest one in the current bull cycle that began in November 2022, causing a ripple effect on altcoins, particularly Ethereum.
Analysts attribute this correction to the selling pressure resulting from Mt.Gox refunds and BTC transfers from the German and US governments. The greed index, which had soared to 80% in previous weeks, plummeted to 29 following these declines.
While Bitcoin saw weekly declines of up to 15%, Ethereum experienced an 18% drop. Amidst these losses, some altcoins saw a surge in value while others plummeted. According to CoinmarketCap, here are the top-performing coins within the top 100 and the biggest losers of the week:
Top Gainers:
Top Losers:
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