Bitcoin reached the significant $64,000 mark, buoyed by the highly anticipated SpaceX IPO and hopeful geopolitical developments, though analysts warn of potential price support vulnerabilities.
The CoinDesk 20 index showed a market downturn, with Ethereum falling 1% and Cronos dropping 1.4%, reflecting minor contractions in leading digital assets.
Despite a brief rally on Monday, Bitcoin's price has drifted back towards $62,500, indicating that bearish forces continue to dominate the cryptocurrency market.
Bitcoin swiftly recovered above $61,000 after a sharp overnight dip to $59,227, triggered by a strong jobs report that also impacted traditional financial markets.
Bitcoin finds temporary stability around $67,000 after a 9.5% weekly drop, even as traditional markets and AI-related crypto assets experience significant gains.
Bitcoin's price dropped under $71,000 at the weekly open due to selling, but bullish derivatives positioning suggests a potential recovery.
Ethereum whales are liquidating millions in ETH following a market sell-off, potentially signaling further price declines for the cryptocurrency.
Bitcoin faces a potential 3% monthly decline in May, with upcoming US PMI data next week poised to significantly influence its price action.