San Francisco, California — The cryptocurrency market experienced notable fluctuations this week, culminating in a 2.5% overall increase, boosting the total market capitalization to approximately $3.43 trillion. Bitcoin’s growth was modest at just under 1%, while Ethereum demonstrated a more significant surge, climbing by nearly 16%.

Investor activity surged, particularly among large holders, as one entity accumulated 13,390 Bitcoin, valued at around $1.34 billion, at an average price of approximately $99,800 each. In a separate move, Tether purchased 4,812 Bitcoin for a substantial $459 million, signaling increased confidence from major market players. Despite these substantial investments, mid- and high-cap altcoins dominated the narrative this week as liquidity shifted among various tokens.

Among the notable champions of the week was Four (FORM), which achieved an impressive 18.32% increase. A significant part of its growth occurred on May 12, when it soared 80% in a single trading session, reaching a peak of $2.97. After some profit-taking pulled it back to $2.60, it rebounded to approximately $2.86 by the end of the week, bolstered by bullish trading indicators. Observers note that FORM may soon challenge its $3 resistance level.

Another noteworthy performer, Onyxcoin (XCN), showcased a spectacular comeback in the middle of the week after initially trend downward. Proving resilient, XCN surged by nearly 21%, surprising many short sellers. However, as it approached the $0.020 resistance level, bearish sentiment appeared to creep in, indicated by decreasing trading volume and a downward trend in the Relative Strength Index.

Dogwifhat (WIF), a meme-inspired cryptocurrency, also reported substantial gains, rallying 13% amid a chaotic market backdrop. WIF saw increased interest after breaking through key resistance levels, reaching a high of $1.34. Yet, momentum waned quickly, necessitating strong support measures to maintain upward progress.

Amid the victors, there were significant losers. Pi Network (PI) was notably impacted, suffering a staggering 29.65% drop from its weekly opening price, effectively erasing gains made in the previous week. After breaking through the psychological $1 barrier, momentum shifted dramatically, resulting in a sharp correction down to approximately $0.69.

Optimism (OP) also faced a bleak outcome, falling 18% after failing to capitalize on a preceding high. The token’s struggle to reclaim its territory reflects underlying market hesitancy, making its position precarious without renewed buyer interest.

Other tokens such as Brett (BRETT) and several minor cryptocurrencies shared the misfortune of significant losses, as the broader market experienced a sharp downturn. With Housecoin tumbling over 58% and Revox and Doodles following suit, the market exhibited clear signs of volatility.

Despite the week’s dramatic shifts, astute traders view these price oscillations as opportunities. As the market continues to evolve, analysts urge investors to conduct thorough research and exercise caution before diving into trades. The ongoing changes in trader sentiment and market dynamics illustrate the fast-paced nature of cryptocurrency trading, demanding vigilance and strategic insight.