BTC, BNB Set New All-Time Highs, ZEC Explodes, and US Shutdown Drags On: Your Weekly Crypto Recap

ZEC has been the biggest gainer over the past week, while BNB has reversed XRP.

It was another eventful week in the cryptocurrency markets, as two of the leaders managed to enter uncharted territory before initiating a small pullback.

But first, let’s turn back the clock to last week, which marked the beginning of October, often referred to in the digital asset community as Uptober. BTC had already recovered some of its mid-September losses, but only doubled, rising to $120,000 for the first time since August. On Friday alone, it went from $120,000 to $124,000, but failed to break its all-time high.

That happened this weekend, which is somewhat surprising given the generally quieter behavior during those days. On Sunday morning, the cryptocurrency took off, shooting to nearly $126,000 to chart a new peak.

After an immediate rebuff, the bulls went on the attack again on Monday, pushing BTC to a new all-time high, this time above $126,000. What followed was another retracement, this time more painful and lasting. Bitcoin fell by more than five thousand dollars in a few hours, falling below $121,000.

The price tried to recover in the following days, but was stopped at $124,000 and pushed south to below $120,000 on Thursday. At the time of writing, it has regained that round-numbered level and is up to $121,000. It is worth noting that more volatility is expected in the coming days due to the uncertainty caused by the US government shutdown.

For now, however, the lack of positive developments on that front has benefited certain cryptocurrencies. BTC wasn’t the only one to set a new record high, as BNB did the same at over $1,300 before falling to $1,250. Still, it managed to surpass XRP. ZEC is the other weekly big winner, up 60%. It marked a four-year high at $280 earlier today before stalling at $240.

Market data

Market cap: $4,215 tons | 24H volume: $181 billion | BTC dominance: 57.1%

BTC: $121,200 (+0.8%) | ETH: $4,325 (-3%) | XRP: $2.81 (-7%)

This week’s Crypto headlines you shouldn’t miss

Altseason Calls Intensify as Crypto Market Cap Hits a Record $4.4 Trillion. As the crypto market soared to new highs on Monday and its total capitalization surpassed $4.4 trillion for the first time, the public became excited about the prospects of a new altseason.

Arthur Hayes: Bitcoin’s four-year cycle is over, endless bull runs ahead. Speaking of excitement about new records and regimes, Arthur Hayes believes the four-year cycle is dead. Instead, he foresees a never-ending bull run for BTC, while some analysts predicted massive price increases of up to $400,000 per bitcoin.

Ethereum could triple to $13,000 this cycle if history repeats itself, analysts say. And there are some for the Ethereum fans. Although it is currently struggling well below $4,300 and has yet to break its ATH during this cycle, analysts are confident it will inevitably do so and peak above $10,000.

Peter Schiff predicts a Bitcoin crash as gold hits an all-time high. But there’s the other side, and who better to provide a doom-and-gloom scenario than Peter Schiff? The famous gold bug predicted another Bitcoin crash, while his favorite asset class also hit a new all-time high of over $4,000/oz this week.

Analyst Insights: Bitcoin Could Fall Even More as the Dollar’s Recovery Tightens Global Liquidity. Here are some more troubling predictions for BTC. The US dollar, which has been losing ground for months, has rebounded this past week, which could actually hurt bitcoin’s price action during this quarter.

XRP Whales Offload $50 Million Daily: Selling Pressure Threatens Price Drop. Ripple’s native token failed to maintain its momentum over the past week, closing with a 7% decline. What is even more worrying is the fact that whales are selling off significant portions of their property every day.

Charts

This week we have chart analysis of Ethereum, Ripple, Cardano, Binance Coin and Hyperliquid – click here for the full price analysis.