Bitcoin, Ether, and Major Altcoins: Weekly Market Update - September 5, 2022
Catch up on the latest crypto market trends with our comprehensive weekly update for September 5, 2022. We'll break down the performance of Bitcoin (BTC), Ethereum (ETH), and major altcoins, highlighting key price movements, significant news, and potential future catalysts.
Bitcoin (BTC) Performance
This week, Bitcoin (BTC) saw a fall of over 5.11%. Although Bitcoin closed the trading day on Sunday, September 11 at $21,828 after bouncing back up from the support zone right above $19,000, its previous performance showed weakness. As a reminder, Bitcoin closed the trading day on Sunday, August 28 at $19,550 after a three-day losing streak.
Ethereum (ETH) Performance
Ethereum (ETH) largely traded in tandem with Bitcoin, losing around 6% across the last seven days. Despite this, ether (ETH) saw renewed strength this week rallying above $2,000 as the general market moved higher on Thursday.
Altcoin Market Overview
The altcoin market presented a mixed bag of results this week. Keep reading to see the major movements in the top altcoins, and how their performance correlates to Bitcoin and Ether's actions.
Key Events and News
The weeks ahead hold significant events for the crypto world. Here are some key things to watch for:
- Crypto Executive Order Responses: Responses to President Biden’s March 2025 “crypto executive order” are due this week. Watch out for these releases from various government agencies. (Departments of Justice and Treasury have already submitted).
- Binance Blockchain Week: September Binance Blockchain Week will take place this month in Paris.
ETH/BTC Chart Analysis
Data from Cointelegraph Markets Pro and TradingView confirms that ETH/BTC has cleared key resistance to pass 0.08 BTC on Aug. 13. The move is impressive.
Disclaimer: Cryptocurrency investments are highly speculative and come with significant risks. This information is for informational purposes only and should not be considered financial advice. Always do your own research before investing.