With the exception of brief fluctuations in Bitcoin's price around the $37,000 mark over the weekend, the cryptocurrency market has experienced a period of relative stability in recent days.

Today, most altcoins are showing sluggish performance, although there are notable exceptions, including Filecoin, Polygon, Optimism, and a few others.

Bitcoin Finds Stability at $37K

About a week ago, Bitcoin briefly dipped below the $35,000 threshold. However, bullish momentum took hold of the market, rapidly pushing the asset's value close to $36,000.

Following a minor retracement, Bitcoin made a strong move on Thursday, surging to $38,000 for the first time in 18 months. However, it struggled to sustain this momentum, leading to a subsequent drop of over $2,000.

In the hours that followed, Bitcoin began to regain some of its lost value and climbed back above $37,000 by the weekend. During Saturday and Sunday, the market experienced a period of calm, with minimal price fluctuations.

Currently, Bitcoin is trading at approximately $37,000, with its market capitalization just below $725 billion. Its dominance within the altcoin market has temporarily relaxed, standing slightly above 51% on CoinMarketCap.

Top Performers of the Past Week

The previous seven days were largely positive for the cryptocurrency market. Ethereum stood out as one of the top gainers, fueled by speculation that BlackRock would file for an Ethereum ETF in the United States. The native token's price surged from $1,900 to a seven-month high of over $2,100 at one point. However, at present, ETH is trading approximately $100 lower.

In another speculative development, rumors about FTX potentially resuming operations in some form received attention, even earning a nod from the SEC Chair, Gary Gensler. This news drove the FTT token's value significantly higher within the same timeframe. Despite experiencing a 9% daily retracement, FTT posted a remarkable 200% gain over the week.

Other cryptocurrencies from the top 100 also saw triple-digit price gains, including ORDI, Celestia, and OX Protocol. Following suit, Terra, THORChain, Solana, Avalanche, Cronos, and Filecoin all experienced notable price increases.

The overall cryptocurrency market capitalization saw an increase of approximately $100 billion over the past week, now exceeding $1.4 trillion on CoinMarketCap.