This was an odd week in the crypto markets: The Big Picture story was one of weakness, with all our indices down on the week.

And for the broadest overview of the entire sector, take a look at our Weiss 50 Crypto Index (W50), down 3.35% on the week:

fxsoriginal

What most market observers may not see, however, is that Bitcoin was the clear culprit, dragging down the market’s overall performance.

How do we know? Because when we remove Bitcoin from the index, as we do in our Weiss 50 Crypto Ex-BTC (W50X), we see the rest of the crypto market was down by only 1.1% on the week.

Meanwhile, major altcoins — such as Stellar, XRP, Monero, and Binance Coin — were relatively stronger.

Trouble is, when we look beyond the major altcoins to the mid- and small-cap cryptos, we again see pronounced weakness. Thus …7

The Weiss Mid-Cap Crypto Index (WMC) was down 5.80% on the week, and ...

The Weiss Small-Cap Crypto Index (WSC) performed even worse, down 9.25%.

fxsoriginal

Observers from afar might describe it as “a consolidation phase.” But it’s more than the standard “retreat-to-the-sidelines” scenario.

Rather, what’s also happening is this: Most investors are concentrating on a small number of high-quality cryptos. And they’re mostly avoiding virtually all digital assets beyond their favorites.

Moreover, the list of investor favorites is no longer be limited to Bitcoin alone. As this week’s activity illustrates, it’s becoming increasingly common for the likes of Stellar, XRP, Ethereum, or even Binance Coin to jump into the limelight in any given week.

Despite the market’s weakness overall, this could be an encouraging sign, denoting an industry in the process of broadening and maturing.

Weiss Ratings does not accept any form of compensation from creators, issuers or sponsors of cryptocurrencies. Nor are the Weiss Cryptocurrency Ratings intended to endorse or promote an investment in any specific cryptocurrency. Cryptocurrencies carry a high degree of risk. The SEC, CFTC and other regulators have expressed concerns with the volatility of the market and the actions of sponsors of specific cryptocurrencies. Be sure to review their official consumer alerts such as the public statement on cryptocurrencies by the SEC.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin will surpass gold by market value and cost over $500 000 in 9 years - Bobby Lee

One bitcoin will half a million dollars by 2028, according to Bobby Lee, the co-founder and the former CEO of China's lowest cryptocurrency exchange BTCC.

More Bitcoin News

Stellar (XLM) retreats from weekend high, stays in green on a day-to-day basis

Stellar (XLM) recovered from the recent low of $0.0683 to trade at $0.0815 on Sunday. By the time of writing, the coin has partially reversed the gains and settled act $0.0778; however, it still enjoys 3% of gains on a day-to-day basis. 

More Stellar Lumens News

Ethereum price analysis: ETH/USD sits in a long-term range

ETH/USD is trading at $186.57 at the time of writing, having retreated from the intraday high of $190.28. The second-largest digital asset with the current market value of $20.3 billion has lost 1.34% of its value since the beginning of Monday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price update: Reignited bearish momentum targets $0.27

Ripple continues to be depressed towards $0.27 (recent support). It is clear recovery towards $0.30 is nothing but a mirage based on the current technical picture.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP