Bitcoin Concludes Another Choppy Week Below $40K: The Crypto Weekly Recap

We saw an entire week of choppy and indecisive price action as bitcoin was ultimately unable to decisively reclaim the $40K level.Bitcoin, and the entire cryptocurrency market, saw yet another choppy week where prices failed to recover substantially and continued to struggle.The past seven days didn’t exactly go according to the intentions of bulls as the price of BTC is down about 9%, currently trading around $37,000. It all started last Friday when the price dropped from above $40,000 down to about $35k. In a sequence of choppy actions, the price attempted to take back the important psychological and technical level at $40K but was unsuccessful each time.At the time of this writing, bitcoin’s dominance over the market sits at around 42%, which is a slight decrease compared to last week. In fact, it peaked at more than 47% on Sunday, but it has been only downhill ever since, showing that altcoins have it somewhat better compared to BTC.Speaking of altcoins, there’s been a shift in the top 3 as USDT has claimed the spot over Binance Coin. This shows that the market really is struggling at the moment because a stablecoin boasts a higher market cap than the majority of altcoins. In any case, ETH is down about 4.5%, BNB is down 11%, while XRP, DOGE, DOT, and many others are down more than 20%.The news was relatively calm in terms of news. One of the more interesting bits of information we got was the fact that Michael Saylor organized a meeting between Elon Musk and some US-based Bitcoin miners. Musk said that they committed to switching to renewable energy sources.

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