Crypto Markets See Sharp Volatility, With Winners and Losers Emerging
Crypto markets saw sharp volatility this week, moving from risk-off to a strong rebound. Bitcoin reclaimed $80,000, and Ethereum and Solana also rallied as short covering and renewed risk appetite boosted the market.
Akedo emerged as the biggest weekly winner with a massive 400% rally, followed by Arbitrum with 60% gains and Near Protocol with 55%. The AI platform's price has entered the price discovery space around $0.08, but a pullback is possible in the near term.
The RSI for Akedo is extremely overextended, indicating bullish momentum still on the move, with FOMO keeping investors in the market despite short-term selling pressure.
Other notable winners included BLORB, Harmony, and Bedrock, while Stablecoin dropped sharply by 16% as bears' advances continued to slow down. Pi Network also declined by 11.5%, but bulls might regain control with the RSI entering an extremely oversold level.