BTC & Altcoins Fight Market Volatility, GameStop Steals Attention

The world of cryptocurrencies witnessed another rollercoaster week, with Bitcoin (BTC) leading the charge. The price of BTC surged, fueling optimism, only to experience a sharp decline. This price volatility was mirrored by altcoins, while the emergence of GameStop (GME) meme stock dominated discussions on Wall Street.

Here’s a closer look into some of this week’s top cryptocurrency news headlines from around the globe.

Bitcoin & Altcoins Tease Investors Hopes


Notably, Bitcoin’s price rallied to cross the $71K price level this week, sparking bullish discussions across the global crypto community. This price rally came against the backdrop of record-breaking BTC ETF

inflows recorded for 19 days continuously, further accompanied by an ETF approval in Thailand.

In the wake of these events, Bitcoin enthusiasts like Adam Back, Apollo co-founder Thomas Fahrer, and Robert Kiyosaki foreseed an extremely bullish outlook for the crypto’s future. However, as the week longed, the flagship crypto crashed to the $69K price level, sparking investor uneasiness.

Meanwhile, it’s worth noting that BitMEX unveiled a Bitcoin futures listing, along with other cryptos. On the other hand, Bitcoin miner

Core Scientific secured a 12-year deal with Nvidia-backed CoreWeave amid miners’ rising interest in AI.


Simultaneously, most altcoins, including Ethereum (ETH) and Solana (SOL), witnessed considerable gains, only to follow BTC’s tumbled movement. The fall in the prices of most of the tokens is due to a crypto market selloff reported by CoinGape Media. Meanwhile, even the meme coins sector mimicked the fading momentum despite massive DOGE, SHIB, and PEPE buying registered over the past week.

CoinGape Media also spotlighted altcoins to steer clear of trading for the upcoming week.

Whereas, the Ripple Labs-backed crypto, XRP

, appears to be set for a 61,390% price rally. Upon Robinhood’s acquisition of Bitstamp, speculations over the exchange’s listing of XRP & XRP ledger tokens prevail. Also, Russian President Vladimir Putin has confirmed the plans to launch a payment system for BRICS with XRP in consideration as a currency.

Also Read: Ripple Labs Might Have Something Big Brewing In Georgia

GameStop Meme Stock Steals Spotlight

Lastly, this week saw a frenzy on Wall Street with the revival of GME stock. The Roaring Kitty, aka Keith Gill, fueled a remarkably high price rally in the stock, only to be undermined by GameStop’s plans to sell 75 million of its shares. However, Keith remains clear of the SEC’s scrutiny despite stock manipulation.

Amid this buzz, VanEck advisor Gabor Gurbacs showcased a sense of dismay in the TradFi system, hailing Bitcoin instead.

Also Read: Crypto Trader Makes $2.4 Million on 12 Meme Coins: Here’s More

Source link