Bitcoin Stabilizes at $78K as UNI Surges 32% Weekly

Bitcoin's (BTC) price has settled at around $78,000 after a tumultuous week. The leading cryptocurrency initially dipped below $77,000 on Monday morning following new strikes in the Middle East but quickly rebounded to $79,000 and is now trading between these two boundaries.

The bears stepped up on Friday after Fed Chair Kevin Warsh's hawkish speech at Jackson Hole, causing BTC to dip below $77,000. However, it managed to erase some losses and spent Saturday above that level. The bulls returned on Sunday with a minor increase to $79,000 but were met with another nosedive due to resumed strikes between the US and Iran.

UNI, the native token of Uniswap, is leading the charge today with a 32% weekly gain and a daily surge of over 10%. It reached a multi-month peak of almost $6.00 before retracing to its current price of around $5.65. Other altcoins like RAIN and NEAR have also posted gains, while some have suffered declines.