The past week has been dominated by a new breakout star in crypto, RAVE, which has captured massive attention with explosive gains.
Despite failed peace talks between the United States and Iran last weekend, optimism has returned as discussions continue, making it another highly active week for global markets and crypto.
Bitcoin had already gained momentum following the earlier ceasefire announcement, but the failed talks pushed its price down to $70,500 by the end of the weekend. At the start of the new week, renewed optimism triggered a strong rebound, sending Bitcoin close to $75,000 within about a day and a half. After briefly facing resistance, it broke higher and surged past $76,000 by Tuesday.
Selling pressure soon followed, dragging Bitcoin below $73,600 in a sharp pullback. However, the decline was short lived as prices quickly recovered to $75,600 after Donald Trump announced a ceasefire between Israel and Lebanon.
The rally continued into Friday, with Bitcoin climbing to nearly $77,000, marking its highest level in about ten weeks. Another boost came shortly after Trump shared on Truth Social that Iran had reopened the Strait of Hormuz.
As a result, Bitcoin’s market capitalization has risen above $1.54 trillion, while its dominance over the broader crypto market has climbed past 57 percent.
Among major altcoins, Ethereum gained around 6 percent, XRP rose 8 percent, and Dogecoin added about 6.5 percent over the week. However, RAVE outperformed all, surging roughly 1,500 percent in just a week and nearly 7,000 percent over the past month.
On the downside, Zcash dropped more than 12 percent, with other declines seen in TAO, RAIN, and CC.
Overall market capitalization now stands around $2.68 trillion, with daily trading volume near $126 billion and Bitcoin maintaining dominance above 57 percent.
Key Developments This Week
Arthur Hayes analyzed how Bitcoin could perform under four possible outcomes of the Iran conflict, highlighting the ongoing influence of geopolitics on crypto markets.
Strategy made a major move by acquiring nearly 14,000 BTC, bringing its total holdings close to 781,000 coins.
BitMine Immersion Technologies expanded its Ethereum position to over 4.8 million tokens, now controlling more than 4 percent of the total supply.
Deutsche Börse purchased a $200 million stake in Kraken, valuing its parent company at $13.3 billion.
Bitcoin developers also proposed a new upgrade aimed at protecting older wallet addresses from potential future risks linked to quantum computing.
Meanwhile, traditional markets continue to outperform, with the S&P 500 reaching new record highs, while Bitcoin still trades more than 40 percent below its previous peak from last year.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
