The total value of the cryptocurrency markets, nearing the $3.7 trillion mark, is signaling positive news for altcoins. Bitcoin (BTC) 
$78,415 remains strong despite a significant drop in trading volume. The feared downturn over the weekend did not materialize, and the new week is expected to start with further gains. So, what is the current state of altcoins?
Bitcoin (BTC)
In the past week, the BTC price increased by approximately 10%, pushing its market cap above $2.34 trillion. Institutional demand remained robust on Friday, with Bitcoin ETFs witnessing net inflows exceeding $1 billion.
After breaking past $112,000, BTC maintains $117,000 as a support level. Despite the upcoming US inflation data, the sustained risk appetite amidst dwindling trading volumes paves the way for higher peaks. One of the psychological targets is $125,000, and if a similar movement to previous cycles occurs, we might easily surpass this region with ongoing price discovery.
In the event of a downturn, substantial sales below $117,000 may open the path to testing the $112,000 level. The $110,000 mark has become a critical area that needs to be maintained on the journey to a new all-time high.
Cryptocurrencies
Although Ether lingering below $3,000 is a concern for the broader altcoin market, continued closures above $2,850 are promising. This week’s star among the top 100 cryptocurrencies is MemeCore (M), with its price increasing by 8.3 times. XLM Coin, though not as popular as before, ranks second in gains, with its price exceeding $0.44, marking a weekly rise of around 86%.
HBAR surged by 51%, ranking ahead of XRP following the latest Grayscale trust update. Pengu is rekindling excitement among investors, with its price hitting $0.00023, aided by Coinbase support, resulting in a weekly gain near 50%.
TON emerged as the week’s loser, with a 0.5% drop, leaving the price at $3, unable to benefit from the recent BTC rally. Alongside TON, seven other altcoins among the top 100, including BGB, LEO, JTO, SKY, FLR, and OKB, gained less than 1%.
Once again, the anticipated rise for altcoins did not occur. The ETHBTC pair failed to break past the 0.0258120BTC resistance during the last attempt.
