Bitcoin Tops $67k After a 10% Rally Last Week

TL;DR

• Bitcoin is trading above $67k per coin after performing well over the weekend.

• BTC is up by 10% over the last seven days as it eyes the $70k mark.

BTC Eyes $70k After 10% Rally Last Week

Bitcoin, the world’s leading cryptocurrency by market cap, is trading above $67k per coin. This comes after the coin rallied by 10% over the last seven days. 

At press time, BTC is trading at $67,007, down by less than 1% over the last 24 hours. Bitcoin’s positive performance last comes following softer inflation reports, giving investors hope that the US Federal Reserve could reduce interest rates before the end of the year.

Altcoins also performed positively last week, with Solana outperforming the other major altcoins. SOL rallied by 27% last week, outperforming the other cryptocurrencies in the top ten space.

However, TON was the only negative performer amongst the top ten after losing 9% of its value last week. Despite that, TON has maintained its position as the ninth-largest cryptocurrency by market cap.

Thanks to the positive performance over the weekend, the total cryptocurrency market cap has climbed to $2.43 trillion. It is still down from the all-time high of $3 trillion recorded in 2021.