Bitcoin Calms at $104K: Altcoins Lead Weekly Retracements

The cryptocurrency market has experienced a mixed week, with Bitcoin (BTC) bouncing back from a multi-day low on Saturday to trade just above $104,000. However, its weekly performance remains in the red, with the flagship cryptocurrency down over 3% on the week.

In contrast, many altcoins have suffered more significant losses over the past seven days. Dogecoin (DOGE), Solana (SOL), SUI (SUI), and Chainlink (LINK) are among the larger-cap altcoins leading the decline.

Bitcoin (BTC) Price Analysis

Bitcoin (BTC) made history last week when it broke its January 2025 all-time high, registering a fresh peak on Pizza Day (May 22) at almost $112,000. However, the rally was short-lived, as the asset began to retrace on the next day following US President Trump’s announcement of a new tariff recommendation against the EU. This led to a slump of several thousand dollars to around $107,000.

The cryptocurrency bounced off at the start of the business week, tapping $110,000, but another rejection followed, pushing BTC back down to the $107,000 level. The situation worsened as the week progressed, with BTC slipping to $105,000 on Friday after Trump blamed China for violating the previous trade agreement between the two nations. On Saturday, Bitcoin (BTC) slumped to a 12-day low of $103,000.

Although Bitcoin (BTC) has recovered some ground and is now trading above $104,000, its market cap has calmed at $2.070 trillion, while its dominance over the altcoins remains well above 61%.

Altcoin Market Performance

Most altcoins have posted significant losses over the past seven days, led by Dogecoin (DOGE) and Shiba Inu, with declines of 15% and 12.6%, respectively. Solana (SOL), SUI (SUI), and Chainlink (LINK) follow suit, with price drops of around 10%.

Ethereum (ETH) has managed to maintain the $2,500 level, while XRP (XRP) is down to $2.16 after a 6.7% weekly slump. Further losses are evident from Pi (PI), Monero (XMR), and