Kvarn X Pro weekly report: Week 41
Over the past week, the cryptocurrency market has moved sideways without a clear trend. The price of Bitcoin, the largest cryptocurrency, rose by about two percent, while Ether, the second-largest cryptocurrency, fell by about one percent. Total value of the cryptocurrency market (excluding the largest stablecoins) increased by approximately one percent.
Over the past week, the cryptocurrency market has moved sideways without a clear trend. The price of Bitcoin, the largest cryptocurrency, rose by about two percent, while Ether, the second-largest cryptocurrency, fell by about one percent. Total value of the cryptocurrency market (excluding the largest stablecoins) increased by approximately one percent.
Due to Bitcoin's stronger performance compared to the rest of the market, Bitcoin dominance increased by about one percent. Meanwhile, the ETH/BTC ratio decreased by around two percent, given Ether's comparatively weaker performance against the broader market.
Among the tokens traded on the Kvarn X trading platform, notable weekly gains included Aptos's APT token (+16%), SUPER (+8%), and the meme coin WIF (+5%). The largest weekly losses were seen in BEAM (-20%), Helium’s HNT token (-15%), and XRP (-11%).
Next Direction for the Crypto Market?
The past week on the cryptocurrency market has been marked by back-and-forth movement: prices declined at the end of last week, rose over the weekend and Monday, and have fallen again in recent days. This sideways movement naturally raises the question of where the next clear trend for the cryptocurrency market might head.
In this weekly report, we present arguments for both bullish and bearish directions and give our final assessment. We start by placing the past week’s price action in a broader context.
The crypto market reached a local top at the end of September and has since moved down with slight fluctuations. This sideways movement offers an intriguing opportunity to interpret the situation as either a “dip” within an uptrend or a “pullback” within a new downtrend.
