Bitcoin’s price recovery since Friday was halted, as if the market itself had grown weary of the game. The asset, once a valiant knight, now finds itself retreating to the humble realm of $106,000, a far cry from its former glory.
While most altcoins meander through the week like confused travelers, their weekly journeys reveal a more tumultuous tale, painted in shades of despair and resignation.
BTC Back to $106K
What a rollercoaster this cryptocurrency has been! It began its journey on October 10, when it plummeted from a lofty $121,000 to a more modest $110,000, and even lower on some exchanges. The initial spark of panic was lit by the ominous threats of the US President, though the true agony came when the overly leveraged market, like a house of cards, began to crumble.
Yet, Bitcoin, ever the resilient underdog, bounced back with a vigor that left observers both amazed and bewildered. It climbed steadily, reaching a peak of $116,000 on Tuesday, only to be met by an invisible wall of resistance. The bears, those relentless hounds of the market, drove it south to $110,000.
This resistance held firm for a time, but on Thursday, it succumbed, sending Bitcoin tumbling to $108,000. Friday saw another descent, this time plunging it below $104,000. The cryptocurrency, like a weary traveler, finally found solace when Trump declared the tariffs on China would not stand, prompting a brief rally to $106,000 and even $107,000. Yet, the market, ever fickle, pushed it back down.
Ups and Downs
Most altcoins have remained stagnant, their daily movements as uneventful as a Sunday afternoon. However, their weekly charts tell a different story, one of quiet suffering. BNB, that once-proud heir, has lost 8% of its value, now trading below the humble $1,100. BCH, with its stoic demeanor, has plummeted by 12%, while LINK, XLM, AVAX, HBAR, ADA, and XRP all waver in the shadow of loss.
In contrast, ETH, SOL, TRX, and DOGE have managed to eke out minor weekly gains, as if they were the only ones who remembered to bring an umbrella on a rainy day. More impressive increases came from the likes of MNT, WLFI, TAO, and ENA, who seem to have discovered the secret to eternal optimism.
The total crypto market cap, once a grand $4.2 trillion, has now dwindled to a paltry $3.7 trillion, a loss of nearly $500 billion in just a week’s time-proof that even in the world of digital gold, fortunes can vanish faster than a magician’s rabbit.
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2025-10-19 13:10