Bitcoin's Wild Ride Continues as QNT and NIGHT Defy Market Correction

The past week has been a wild ride for Bitcoin, with prices surging to over $87,000 and then plummeting to under $84,000 in a matter of hours. The asset's market cap stands at $1.69 trillion, with its dominance over the altcoins at 59% on CMC. Despite the positive inflation and labor market data, Bitcoin was rejected at the $87,000 level and suffered significant liquidations, leaving nearly $600 million in its wake.

Meanwhile, QNT and NIGHT have continued to defy the market correction, with QNT posting a 13% surge to over $260 and NIGHT rising by a similar percentage to $0.50. The rest of the altcoin market is deep in the red, with Ethereum, XRP, and ZEC among those suffering significant losses.

The US labor market showed signs of a cooldown on Friday, which should be bullish for risk-on assets, but Bitcoin's price surge was short-lived. The asset's volatility has been a hallmark of the past week, with prices fluctuating wildly in a matter of hours.