Despite Bitcoin continuing to move sideways, the total market cap increased by 4.3%.
The weekend brought no respite for Bitcoin (BTC), with more ancient wallets moving their bitcoins to exchanges and new wallets. With long-term holders looking to liquidate their Bitcoin holdings, the selling pressures on Bitcoin are increasing, and it may be some time before we see a trend reversal for the king coin.
While the crypto market cap increased by over 4%, BTC continues to hold itself above $19.7k. Ethereum registered 7.5% weekly gains but continues to trade at $15.6k. Most of the altcoins, including Cardano (12.5%), Polkadot (7.3%), Solana (3.7%), and Polygon (12.29%), registered gains during the past seven days.