The cryptocurrency market begins the week on a positive note with altcoins such as SPX6900 (SPX), Internet Computer (ICP), and AB (AB) leading the gains on Monday, at press time. Recovering from the flash crash on Thursday, Bitcoin reclaims and holds above the $105,000 level on Saturday, adding tailwinds to altcoins. The meme coin SPX soared 7.95% on Sunday following the 8% hike on Saturday to complete a bullish weekend. At the time of writing, SPX trades at $1.25 with minimal intraday movement after a 22% rally last week.
Ethereum (ETH) is trading just below $2,500 on Friday as investors exerted net selling pressure of 117,000 ETH across crypto exchanges following the Trump-Musk clash. Following a clash between US President Donald Trump and Tesla CEO Elon Musk over the “big beautiful bill,” which led to Ethereum shedding over 7% of its value on Thursday, crypto exchanges saw net inflows of 117,000 ETH, the second-highest since April 24. The rising exchange inflows signify increased selling pressure on the top altcoin.
Ripple (XRP) edges higher after a broader flash sell-off on Thursday, which saw the crypto market capitalization drop 4% to $3.4 trillion. XRP has recovered to trade at around $2.17 at the time of writing on Friday after dropping 9% on Thursday. This uptrend has the potential to continue into the weekend with bulls eyeing $2.50, underpinned by improving sentiment.
