This Week in Coins

Illustration by Mitchell Preffer for Decrypt. Is Bitcoin back? For at least a little while, it feels like it may be. This time last week, it was trading for $53,229. It’s now trading above $60,000, according to CoinGecko. That’s a 12% rise over seven days, and a threshold unseen since last month.  The price rise came as traders grew more confident that the Fed would slash interest rates by 50 basis points instead of 25. All eyes are on the central bank next week after two years of sky-high inter...

Illustration by Mitchell Preffer for Decrypt. There's depressing news for those hoping the price of crypto markets would improve this week. Depressing news for nearly all investors, it would seem.  Bitcoin continued to drop, and hard, this week. Over the past seven days, the price of the asset has descended by more than 9% and—after dipping as low as $52,690 on Friday—rolled into the weekend trading hands for $53,229, according to CoinGecko.  That’s significantly lower than its 2021 record of $...

Illustration by Mitchell Preffer for Decrypt. It was a fairly uneventful week in the crypto world... until Friday. The action-packed end to the week came with an increase in the price of Bitcoin, buoyed by crypto market optimism after Federal Reserve Chair Jerome Powell gave his strongest signal yet that he will slash interest rates come September. The price of the asset popped above $64,600, according to CoinGecko, a more than 7% rise over the week. It slid into the weekend at $63,500. Still,...

Illustration by Mitchell Preffer for Decrypt. It was a quiet week in the crypto sphere. Even so, "quiet" in crypto is still not for the faint of heart. Bitcoin was at one point trading for above $60,000 again on Monday, but things took a turn for the worse and by Thursday it had—seemingly unexplainedly—crashed to as low as $57,787. It rolled into the weekend at $59,131 per coin, a seven-day dip of 2% and more than 8% below this time last month. It still has a long way to go before it gets as hi...

Illustration by Mitchell Preffer for Decrypt. When people talk about crypto’s volatile nature, they’re referring to weeks like this.  Bitcoin was at one point trading for below $50,000 per coin on Monday after a jobs report sparked fears that the U.S. economy was headed in the wrong direction. And a phenomenon dubbed the “carry trade”—a well-known trick where traders around the world use a different currency to buy risk assets denominated in dollars—seemed to be coming undone when the Japanese y...

It didn't take long for things to go pear-shaped. Bitcoin was closing in on its all-time high again on Monday after briefly touching $70,000 per coin on America's biggest crypto exchange, Coinbase. But by Friday, it had dipped so, so low: Bitcoin has over the week dropped by more than 9% to $61,358—dipping as low as $60,704—according to CoinGecko. The reason was in part down to a weak jobs report that sparked fears that the U.S. economy could be sliding into a recession, causing a Wall Street se...

Illustration by Mitchell Preffer for Decrypt. After an eventful week, with the launch of spot Ethereum exchange-traded funds (ETFs) and Bitcoin 2024 kicking off, prices are surprisingly flat over the seven-day period. Most surprisingly—or probably not that much of a shock—is Ethereum, the second-biggest cryptocurrency by market cap: it's down 7% over the week, despite the sought-after funds finally launching. On Tuesday, the funds had a successful start, with over $1 billion in trading volume an...

Illustration by Mitchell Preffer for Decrypt. After weeks of “chopsolidation,” digital assets mounted a slow but steady comeback as bearish government actors lost their grip on the wider market. Though it mostly traded sideways, the price of Bitcoin posted a modest 3.3% gain over the past seven days to enter the weekend at $57,966, having stabilized well above its $53,900 low from last Friday. The leading crypto asset now appears all but relieved of sell-side pressure from the German government,...

Illustration by Mitchell Preffer for Decrypt. After ten years, the Mt. Gox bankruptcy’s Bitcoin distributions have officially begun—and the crypto market is spooked. On Friday, the price of Bitcoin collapsed as low as $53,898, its lowest price since February, according to CoinGecko. That’s a 27% drop from its all-time high of $73,700 registered in March, and the largest pullback from a local high since the asset’s bottom at $15,500 in November 2022. Though Bitcoin’s price fell swiftly after the...

Illustration by Mitchell Preffer for Decrypt. The crypto market’s bearish slide in June began showing signs of recovery this week, as bullish news revived investor interest across a variety of altcoins. Chief among those coins is Solana (SOL)—one of the biggest cryptocurrencies after Bitcoin (BTC) and Ethereum (ETH). The latter assets were down another 5% and 3% respectively over the past week, with another old-school Bitcoin whale deciding to take profits while the market is up. By contrast, SO...

Illustration by Mitchell Preffer for Decrypt. It’s been another uninspiring week for Bitcoin, with the top crypto asset chopping sideways to enter the weekend below $64,500, notching another 2.6% loss in the last seven days. It's extra disappointing given how MicroStrategy bought another $786 million in BTC this week, which the company’s founder says it never plans to sell. Still, MicroStrategy’s demand was overpowered by an onslaught of sell pressure from other long-term Bitcoin whales, includi...

Illustration by Mitchell Preffer for Decrypt. A flurry of excitement this week around interest rates, crypto leverage, and ETF flows still proved net negative for the price of Bitcoin this week. The leading cryptocurrency plunged as low as $65,018 on Friday, according to CoinGecko, edging near a 30-day low, before rolling into the weekend at $66,088. That's down 4.7% for the week—even as AllianceBernstein predicted yesterday that BTC could hit $200,000 next year. Ethereum (ETH) fell 4% over the...

Illustration by Mitchell Preffer for Decrypt. Bitcoin and crypto investors received a lot of good news this week, even though the market still can’t manage to break free from its highs three months ago. On Tuesday, the US Bitcoin spot ETFs absorbed net inflows of $887 million—the second-best daily performance for the ETFs to date. The price of Bitcoin surged above $71,000 in the process, reaching its highest price since March. That performance was followed by not one, but two high-profile Bitcoi...

Illustration by Mitchell Preffer for Decrypt. It's been another boring week for Bitcoin but non-stop craziness for the rest of the industry. The price of Bitcoin broke above $70,000 on Monday but is now trading for $67,635, down about 2% over seven days. Its dip is in part due to news that defunct Bitcoin exchange Mt. Gox moved more than $9 billion worth of BTC to an unknown wallet yesterday, which caused the market to think that creditors were about to be repaid. Since then, the collapsed exch...

Illustration by Mitchell Preffer for Decrypt. Most cryptocurrencies are down this week, as the price of Bitcoin and other major coins and tokens struggled to gain ground for another depressing week.  Bitcoin is now trading for $61,275, according to CoinGecko—a seven-day drop of more than 3%. For a market known for its rollercoaster volatility, things are... well, boring. That's the verdict of analyst and Capriole Investments founder Charles Edwards, who said on Twitter Thursday that the lack of...

Illustration by Mitchell Preffer for Decrypt. It was a rough week for Bitcoin—and the wider crypto market—but as of yesterday, things were looking brighter.  The price of Bitcoin is now at $63,107. It’s effectively where it was seven days ago, barely down a fraction of a percent, according to CoinGecko data. That's an improvement from when it was trading for below $57,000 per coin earlier in the week.  Bitcoin’s mid-week plunge was exacerbated by spot Bitcoin exchange-traded funds (ETFs) posting...

Illustration by Mitchell Preffer for Decrypt. Bitcoin's movements have been unremarkable this week, weakly wavering seven days after its long-anticipated halving event—but one category of crypto has come out winning: meme coins. Over the past week, Bonk has made the biggest gains, according to CoinGecko data. The Solana-based token is up 58%. The reason for the dog coin's rise is in part due to the Bonk DAO approving a proposal to burn over 278 billion Bonk tokens—seen as a bullish move because...

Illustration by Mitchell Preffer for Decrypt. The long-anticipated halving event took place on 4/20 and after all the hype and speculation, Bitcoin is...sitting pretty still. CoinGecko shows that the top coin's price stands at $64,041, after dropping by 5% in seven days. Over the past 24 hours—which included the fourth reduction in mining rewards since the birth of BTC—it hasn't moved at all. It's still been a dramatic week for the biggest digital asset by market cap after it got battered last w...

Illustration by Mitchell Preffer for Decrypt. Markets ended the week in the red, with the Bitcoin price bobbing below its old 2021 high of $69,044. It has fallen far short of returning to its all-time high of $73,737, which it touched last month. According to CoinGecko, it is priced at $67,957 per coin as the weekend gets underway. The price drop—the coin is now down nearly 3% over the week—is likely due to crypto fund manager Grayscale shifting even more crypto. It redeemed over $300 million at...

Illustration by Mitchell Preffer for Decrypt. Bitcoin seemed to be on a roll earlier this month, reaching a new all-time high ten days ago. Now it's struggling to break above its longstanding top of $69,000 set in November 2021. What's going on? For a start, Grayscale selling coins isn't helping. The massive fund manager was again shifting crypto to its custodian as investors redeemed their shares. Todd Sohn, an ETF and technical strategist at Strategas Securities, told Decrypt that it was likel...