Top 5 cryptocurrencies to watch this week: BTC, NEAR, ATOM, FTM, FTT By Cointelegraph

© Reuters.

(BTC) has stopped its decline and is attempting a recovery along with select altcoins. Some traders have been fearing a massive sell-off in Bitcoin but Capriole CEO Charles Edwards said that Bitcoin’s worst crashes have happened “due to miner capitulation (December 2018 and March 2020), when BTC fell below production costs.” However, the current production cost of Bitcoin was $34,000, which is well below the current price.

In a sign that institutional investors remain bullish on the crypto sector even after the recent fall, Cathie Wood’s Ark Invest bought 6.93 million shares of the special purchase acquisition company that will merge with Circle, the principal operator of (USDC) and the second-largest stablecoin in terms of market capitalization.

Crypto market data daily view. Source: Coin360