Bitcoin Defies Market Volatility with 3% Weekly Gain

Bitcoin's price has held firm despite a volatile trading week for cryptocurrencies. The largest cryptocurrency by market capitalization was trading at just over $84,000 in mid-afternoon trading on September 24 and headed for a winning week despite suffering several knocks in recent days.

Digital assets, like stocks, have been under pressure as yields on U.S. Treasurys have surged. However, Bitcoin has managed to continue its rally that began at the end of August, with a 3% gain on the week and a 30% increase over the past month.

Other cryptocurrencies such as Ethereum (ETH) and Dogecoin (DOGE) are also moving upwards. Analysts are encouraged by the resilience of Bitcoin in the face of market volatility, with some saying that Bitcoin needs to remain above $80,000 for a sustained bull run that could see the price move back above the key threshold of $100,000.