Crypto Tidbits: Bitcoin Nears $10k, Goldman Sachs Talks Cryptocurrency, Chinese Yuan Slumps

Another week, another round of Crypto Tidbits.

It’s been a positive past week for the Bitcoin market.

After falling as low as $8,600, the flagship crypto mounted a strong comeback over the past few days that say BTC hit $9,650. This is the highest price the asset has traded in just over eight days.

Interestingly, altcoins began to deviate from Bitcoin’s price action over the past week.

As can be seen in the image below, Ethereum largely outperformed BTC and other asset classes, as did Cardano and Maker. On the other hand, Chainlink, XRP, Bitcoin Satoshi’s Vision, and other top crypto assets slumped.

Image of crypto market price action from Coin360

The crypto market remains below the late-April highs and the year-to-date highs, but analysts are still bullish.

Blockchain analytics upstart Santiment, for instance, shared late last week that BTC’s Network Value to Transactions Ratio (NVT) remains “healthy.”

“In spite of BTC’s mild -4.4% downswing today, its NVT looks healthy,…