The crypto market is showing its strong side on a weekly comparison.
While Bitcoin is trading around the $74,000 mark, numerous altcoins have recorded partly significant gains over the seven-day period, including double-digit increases.
Bitcoin (BTC) is currently trading at around $74,030 and shows a slight decline of 0.39 percent over the past 24 hours.
On a weekly basis, however, a gain of 6.50 percent is recorded.
The world’s largest cryptocurrency thus demonstrates a degree of stability, without having made a clear upward breakout so far.
Interestingly, despite the Iran war, sentiment in the crypto market has eased again.
The Fear & Greed Index currently stands at 43 points, indicating “neutral”, which is a significant improvement compared to February.
In the previous month, sentiment was as bad as it had not been in three years; the trigger was the crash of Bitcoin.
Particularly notable is the performance of several altcoins over the past week.
Ethereum, Solana, XRP, and Cardano all recorded solid to strong gains.
The largest weekly gain among the observed coins is posted by Hyperliquid with an increase of just under 22 percent.
Short-term price developments are likely to be significantly influenced by the US Federal Reserve.
On Wednesday, the regular Fed meeting is scheduled, at which no interest rate change is expected.
Nevertheless, statements from Fed Chair Jerome Powell as well as new inflation data could influence sentiment in the crypto market.
Until then, the situation for Bitcoin remains sideways for the time being.
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