The past week in the cryptocurrency market has been turbulent, with price declines and recoveries, alongside important regulatory news.
Bitcoin's Decline and Recovery
At the beginning of the week, Bitcoin significantly declined in price, falling to $112,000 on August 2. In the following days, it attempted to recover, exceeding $115,000, but new selling pressure led to a drop below $113,000. However, later Bitcoin managed to stabilize above $114,000.
Regulatory Changes and Their Impact
Important changes occurred with US President Donald Trump's signing of an executive order allowing Bitcoin and other digital assets in 401(k) retirement plans. This event had a substantial positive impact on the cryptocurrency market.
Altcoin Market Dynamics
Against the backdrop of positive news, many altcoins showed notable gains. Ethereum increased by 9% and is currently just below $4,000. XRP also rose by 6%, while Cardano and Stellar showed increases of 9.6% and 11%, respectively.
The week has been eventful, from declines to growth, highlighting the high volatility of the cryptocurrency market.
