First Mover Americas: Expecting More Bitcoin Slip at End of Strong Week?

Despite the crypto market indicating some strength this week, bitcoin (BTC) was trading down on the day by 4%, while ether (ETH) declined by 2%. Bitcoin hit a two-month high of $24,900 on Thursday, but now appears to be struggling for momentum.

Ether was up 10% on the week after the Ethereum blockchain had its third and final testnet ahead of the Merge. Ethereum Classic (ETC) and OKEx’s token, OKB, were both up 6% in the last 24 hours.

Bitcoin’s slower upward movement is in line with its declining dominance against altcoins like XRP, BNB and DOT as well as some well performing tokens like CALORIE, LUCKYBLOCK and Battle Infinity. BTC dominance stands at about 40%, a drop from its recent high of 47% in June.

The crypto market valuation on Thursday rose to a two-month high of $1.17 trillion, extending July's recovery. Volume could pick up further in coming weeks as the seemingly bullish Ethereum Merge is due in mid-September.