Filecoin (FIL) Rockets 25% to $1, Bitcoin (BTC) Maintains $77K as Big Week Begins: Market Watch

Bitcoin’s price dipped below $77,000 on Sunday but has managed to recover about a grand since that local low, and now sits closer to $78,000 ahead of what is expected to be its most important week this year.

Ripple’s XRP is trying to take down the $1.40 resistance once again, while ZEC has rebounded past $1,130. BTW is today’s top performer, surging by 36%, and it’s followed by FIL.

BTC Begins Crucial Week

Bitcoin entered the previous business week on the right foot, as it tried to overcome the $80,000 mark for the third or fourth time in the past 10 days. However, the bears were once again more persistent and didn’t allow it. Instead, the cryptocurrency started to lose value gradually and dipped to $77,600 by Wednesday.

It bounced to $79,600 twice on Thursday morning, but each attempt was halted, especially after the PPI data came out. More volatility was expected on Friday with the release of the CPI data, and it didn’t disappoint. Once the number came out, bitcoin went from over $77,000 to $76,000, before it shot up to $79,800 – all within just over an hour.

It was rejected at $80,000 once again and returned to its starting point at around $77,000. The weekend was less eventful, as usual, with BTC dipping to $76,400 yesterday and this morning. However, it has bounced to almost $78,000 as of press time as it begins arguably its most important week this year, with the Fed’s decision and the voting on the CLARITY Act.

Its market cap is back at $1.560 trillion, while its dominance over the alts is up to 59% on CMC.

FIL, BTW on a Roll

Ethereum has rebounded to over $2,500 today, while BNB remains north of $720. Ripple’s XRP is up by more than 3%, and it’s knocking on the $1.40 door. ZEC is up to $1,140 after a 5% increase, while XMR has slipped by almost 4% to $515.

The two top gainers from the 100 largest altcoins are BTW and FIL. The former has skyrocketed by more than 32% to $0.77, while the latter has tapped the $1.00 level after a 25% surge.

The cumulative market cap of all crypto assets has increased by 1% daily to $2.650 trillion on CMC.