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In the altcoin space, the relative movement was minimal, with Ethereum slightly down by 3%. While Bitcoin held steady, some altcoins experienced marginal gains or losses. Render, an AI-focused blockchain project, bucked the trend with a notable 38% increase during the week, driven by news coverage and strategic partnerships.
Bitcoin's Technical and Institutional Outlook
From a technical standpoint, Bitcoin's recent candlestick signals have been bullish. A hammer candlestick pattern formed last week, indicating potential upward momentum. Nonetheless, some analysts remain cautiously optimistic as Bitcoin remains 12,000 USD shy of its all-time high of approximately 73,000 USD.