Crypto Weekly Roundup: Bitcoin Price Pumps, FET and Fantom (FTM) In the Spotlight

The week is still not over yet, however crypto traders can already be more than happy with what we saw from the market in the last few days.

Cryptocurrency had a good week as BTC price pumped and pushed altcoins up as well.

This week, the BTC price pumped 8.5%, which is a strong performance. It’s now trading well above $64k, and it does look like the road to $70k is now “open”.

An Ali analyst reported that the Bitcoin bull-bear market indicator has been fluctuating between bearish and bullish since early August. Now, it has once again shifted to a bullish stance.

The Bitcoin bull-bear market indicator is a tool used by traders and analysts to gauge the overall sentiment and momentum of the Bitcoin market. It considers various factors such as price action, trading volume, and on-chain metrics to determine whether the market is in a bullish or bearish phase.

Since early August, the #Bitcoin bull-bear market indicator has been oscillating between bearish and bullish. Now, it has switched back to bullish again! pic.twitter.com/HxDcuQuxFe

Also, as of yesterday, Bitcoin ETFs had inflows this week of over $300 million in total, which likely helped BTC price move upwards as well.

On Polymarket, a popular prediction market platform, former President Donald Trump’s odds have surpassed those of President Joe Biden in the upcoming 2024 US presidential election. This shift in betting odds could be seen as another potential catalyst for the crypto market's upward movement.

When BTC is doing well like this, altcoins tend to benefit. This week, we saw some utility projects “waking up”. For instance, the FET price pumped 50%, which might be a sign of a new AI crypto season.

Moreover, Fantom's FTM also pumped 35%. Some elite crypto traders like “Altcoin Sherpa” tweeted this week that FTM looks “very strong”, as we reported earlier.

$FTM: Extremely strong moves lately. This one got crushed recently but I still think it's a good project with the $S migration coming. Next target area would be around $0.55, its the 200d EMA and S/R level. Looks very strong. Good luck.

Some meme coins also had a good week, with WIF pumping 35%. Also, a top crypto gainer among top 100 coins is POPCAT, which pumped an impressive 70% this week.

Overall, this was a strong week for the crypto market, potentially signaling better days ahead as the whole market prepares for a potential parabolic run. Historically, Bitcoin tends to pump parabolically around 150-160 days after the halving, and we are still not there yet. This suggests that there might be more exciting developments on the horizon for crypto enthusiasts and investors.

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