Bitcoin has rebounded above $28,000 after a period of decline, with bullish scenarios predicted for the coming months. In contrast, several altcoins, including the previously strong performers Shiba Inu and Dogecoin, have experienced significant retracements. HBAR and SOL are also currently in decline.
BTC Finds Stability Above $28K
The past week has seen considerable volatility for Bitcoin, beginning with a $1,500 drop in just a few minutes after the US CFTC sued Binance and Changpeng Zhao. However, the bulls rallied, and the cryptocurrency surged past $29,000 on Thursday, only to drop below $27,600 the following day. Over the weekend, Bitcoin regained ground, peaking near $29,000 but staying above $28,000 for the most part.
Bitcoin’s market capitalization remains near $550 billion, with a 46.4% dominance.