Bitcoin and Shiba Inu (SHIB) Endured a Week of Market Turmoil, Yet Maintained Bullish Prospects

The dynamic crypto world has endured another week of remarkable developments, primarily witnessed across the sector. Despite rising market optimism

Top cryptocurrency prices faced volatility this week despite rising market optimism and bullish investor expectations for Q4. However, meme coin Shiba Inu (SHIB coin) maintained its bullish momentum with several key community developments.

Here is a quick summary of some of the most important crypto market updates reported over the past week.

Bitcoin and top cryptocurrencies in “turmoil”

BTC price closed the week at $94,000, indicating a bottom reversal from recent trends. However, market participants are showing bottom-buying sentiment, suggesting bullish prospects for the asset in the long term.

Despite the volatile price movement, American company KULR announced a purchase of BTC worth $21 million, injecting optimism into the market. However, Bitcoin ETFs faced slight outflows this week, indicating uncertainty in investor sentiment.

Interestingly, Japan rejected a proposal to make Bitcoin the national reserve in light of the recent market volatility, sparking speculation.

Moreover, Robert Kiyosaki shared a bold prediction for BTC price, stating that the largest cryptocurrency will reach $350,000 by 2025. The market trends showed volatility, but market observers remained optimistic about future movements following the news.

Bullish outlook for altcoins

Meanwhile, altcoins appeared to be surging ahead despite the turbulence in the broader sector. Notably, Titan of Crypto, a popular market expert, hinted at a bullish path ahead for the crypto market.

Additionally, Michael van de Poppe remained bullish on the future of the altcoin market. Overall, market observers anticipated a rebound in the coming days and expected the bull run to continue in 2025.

Key developments in the SHIB coin community

In other news, SHIB, the dog-themed meme crypto, witnessed some crucial community developments. Shiba Inu lead developer Shytoshi Kusama confirmed the TREAT token launch earlier this week.

At the same time, the community announced the launch of ‘SHIB: The Metaverse’ this week. Additionally, Shibarium addresses crossed the 2 million mark.

This added to the market optimism around the meme coin. Moreover, the SHIB burn saga continued, reducing the token’s circulating supply and paving the way for bullish price movements in the future.