🔊Weekly Market Highlights #58: July 31 - August 6

✨The cryptocurrency market in the first week of August 2023 got out of the gloomy situation of the previous month with a series of news: Curve was attacked by hackers, MicroStrategy wants to buy more BTC, Vietnam ranks 5th in terms of trading volume on Binance exchange.

✨Over the past week, the crypto market decreased by ~$20B (from ~$1,181B to ~$1,161B) of its total capitalization.

✨Bitcoin Getting Squeezed at $29K
✅The bears were in control and pushed BTC down to $28.5K but were stopped by the bulls afterward in the first two days of August. But overall, BTC has had days trading in a very narrow range - $29K

✅However, it's worth noting that these calm periods are not typical for the cryptocurrency market and tend to be a precursor to a larger move. We must wait and see which direction BTC will take when it fluctuates.

✨Altcoins Also Flatline
✅It's not just the Bitcoin price experiencing a volume draught. It's also the altcoin market.

✅Among the top altcoins, only SHIB has the best growth of the week with 11% amid a stagnating market like this, which is worth noting. Other altcoins are in slightly red

✅BSCS is trading at $0,008172, +1,95% from its 7-day all-time low of $0,008016.

✅Total market cap of altcoins this week is ~$600B

✨Bitcoin Fear and Greed Index is 49 - Neutral, lower than at the beginning of the week (50)

✨ Dominance:
✅BTC: 48.6%
✅ETH: 19.0%

📣Stay tuned! The Market's highlights will be updated by BSCStation 😎

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