Cryptocurrency market faced extreme volatility across the entire week which raised both hopes and fears. It started early on Monday when the US Commodity Futures Trading Commission filed a lawsuit against cryptocurrency exchange Binance and its founder, Changpeng Zhao. This caused Bitcoin to plummet in minutes, though the bulls quickly took over and pushed the asset north. On Thursday, it breached the $29,000 mark, but over the course of the next 24 hours, BTC saw a drastic dip, taking it below $27,600 before the weekend.

The bulls regained control as the asset reclaimed $28,000 ahead of the weekend. Further, Crypto analysts remain optimistic about more potential bullish scenarios in the upcoming months. Bitcoin continues to stay just below $550 billion as its dominance remains stagnant at 46.4%.

The majority of altcoins showed similar performance with the two leading memecoin, Dogecoin and Shiba Inu, experiencing 5.5% and 3.5% correction respectively. However, Cardano is in the green with the asset experiencing a 3.5% surge in the past 24 hours, taking it to a 14% gain on a weekly scale at a price of $0.4. Ethereum, Binance Coin, Matic, Polkadot, Litecoin, Tron and Avalanche have also edged down in the following hours.

Overall, the total crypto market continues to stay around $1.2 trillion, as of the latest price checks on Coin Market Cap.



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