Bitcoin’s (BTC) price slumped over the course of the week, dropping by $1327 to $13,930.
BTC behaved with less volatility compared to last week. The assets market value ranged between a high of $15,398 to a low of $13,511 on BTC Markets.
As the price fluctuated, so too did the total digital asset market capitalisation. It hit a high of $415.7bn on Monday night only to come back to $382.9bn on Friday. BTC dominance sits at 66.5 per cent.
BTC’s price dropped by $795 to $14,138 early Thursday morning.
The 5.3 per cent crash was a knee-jerk reaction to reports of a previously dormant wallet address re-activating after 11 years.
The wallet transferred 50 BTC to various addresses, spooking traders as speculation grew that an early adopter of the digital asset was selling their position.