Bitcoin Struggles Above $106,000, Altcoin Performance Surprises

While the cryptocurrency market remained relatively calm over the weekend, notable fluctuations emerged in the price of Bitcoin as it attempts to reclaim the $106,000 mark. Notably, Bitcoin’s weekly gains are comparable to its overall market performance. Following a brief surge past this level, it dipped slightly to around $105,500. The week promises to bring major economic events that could potentially influence volatility. Bitcoin’s bullish fight continues as it seeks to stabilize above the key threshold. 125 million dollars worth of long and short positions were liquidated over the past 24 hours indicating a relatively calm market environment for now, but this could shift if we see significant movement in the week’s economic calendar. The upcoming CPI report due Wednesday, followed by the PPI report later this week, are expected to offer insights into inflation trends that can significantly impact market activity. Furthermore, ongoing trade talks between the US and China are anticipated to influence market sentiment, further impacting trading patterns. Altcoins have seen some notable gains. Internet Computer (ICP) has surged by 8.3%, while Fartcoin (FARTCOIN) and SPX69000 (SPX), popular meme coins, have experienced impressive growth of almost 7%. The market remains mostly in the red, but these shifts present a stark contrast to the overall trend.