Markets threw a mixed bag this week, but the total crypto market cap still squeezed out a 2.5% gain to hit $3.43 trillion

Bitcoin[BTC] chopped sideways (+0.73%), stuck in range-bound limbo

The crypto market displayed a mixed performance this week, with the total cryptocurrency market capitalization still managing to report a 2.5% gain to reach $3.43 trillion despite the volatility. Bitcoin (BTC) exhibited sideways movement, incrementally increasing by 0.73%, remaining range-bound in price. On the other hand, Ethereum (ETH) experienced a significant surge, soaring by 15.8%.

As market trends shifted, there was a strong showing of whale activity. Notably, Strategy massively accumulated 13,390 BTC, valued at $1.34 billion, at an average price of $99.8K. Additionally, Tether made a substantial purchase of 4,812 BTC for a total of $459 million.

However, despite the heavy accumulation, it seems that the high- and mid-cap altcoins might be stealing the limelight, shifting liquidity flows in their favor. This could indicate that rotation season might just be kicking off.

Among the notable weekly winners in the market, Four [FORM] launched to the top of the weekly gainers leaderboard with an 18.32% pump as it completely blitzed through the $2.5 zone to rally to new highs of $2.97. The lion’s share of the move — a massive 80% — exploded in a single mega green candle on the 12th of May, launching FORM 16.67% higher early in the week.

After the apex, profit-taking kicked in over the next three sessions, pulling FORM back to $2.60 at press time as sellers tested the tape. But bulls quickly regrouped, firing off a sharp 7% bounce that landed FORM at $2.86. Technicals are flashing bullish divergence as the MACD had a higher low despite the lower lows in price.

With firm bid-side support underpinning price action, FORM is primed to challenge the $3 resistance level soon. This is definitely a coin to keep locked on your radar next week.

Onyxcoin (XCN) clocked in second place on the weekly movers, flexing double-digit gains despite a midweek rally that surprised traders. The week opened with bears dominating at $0.0186, grinding price lower for three straight sessions.

Then, on the 15th of May, XCN saw a 20.97% rocket blast that caught shorts off guard, triggering a juicy liquidity trap as price tagged $0.020. The move also flipped the Fib level at 0.382. But bears aren’t backing down. The RSI is tipping downward as XCN tests the $0.020 resistance zone, signaling the bulls might be running out of steam.

Volume is down 27.77% to $81.97 million at press time, signaling that bears might be gearing up for another push. A long squeeze could drag XCN lower soon. Hence, tread carefully!

dogwifhat (WIF) pulled a textbook breakout this week, clocking in a 13% rally that screamed short-term alpha play in a market clouded by macro FUD.

After a weak open and rejection near the $0.97 supply zone, WIF bulls fired back on May 12 with a monster 26.39% candle, sending price action ripping through overhead resistance to tag $1.34. That move flipped a key level into support, invalidating the local bearish bias and flipping the script.

Momentum overheated fast, with RSI punching into overbought territory before cooling. The cooldown came quickly as WIF price action retraced to $1.01 at press time, even wicking as low as $0.92.

For WIF to reload and break higher, bulls need to defend the $0.90-$1.00 demand zone with conviction. Without a solid bid wall, another fade could be on the table.

Outside the majors, altcoin rockets stole the spotlight with Launchcoin (LAUNCHCOIN) exploding with a staggering +2002.2% weekly move to dominate the top gainers leaderboard.

Maple (MPL) displayed a strong surge with a +1761% rally, while Babyboomtoken (BBT) experienced a pop of +270%, showcasing speculative momentum in the market.

In terms of weekly losers, Pi Network (PI) topped the list with a savage 29.65% correction from its weekly open of $0.78. This move completely erased every inch of last week’s rally and left PI price action testing the $0.53 support zone at press time.

The week kicked off with fireworks as a monster 43.72% intraday candle on the 13th of May sent PI soaring past the psychological $1 mark