The debut of NFT sends Tezos (XTZ) to 3-month highs, putting Bitcoin at risk of losing its weekly uptrend.

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This week is a rags-to-riches narrative for Tezos, as Bitcoin bulls struggle to find momentum for a full rebound after Tuesday’s huge price drop.

Bitcoin (BTC) fell below a major weekly close goal on Friday, as analysts warned that the cryptocurrency’s multi-week upswing was in jeopardy.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC price lags $1,500 below crucial level

Data from TradingView showed BTC/USD trading at around $46,000 Friday after rejecting near $47,450 the day before.

That level marks the lower bound of Bitcoin’s uptrend on the weekly chart, one that has continued since mid-July.

Now, BTC/USD needs to reclaim it, trader and analyst Rekt Capital said, in order to preserve that trend.

With Bitcoin closer to $1,500 below the higher low target at the time of writing, much work was left to do over the weekend to secure a more bullish close by the end of Sunday.

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Tezos outshines the rest

On altcoins, a curious picture was developing Friday as investors mysteriously piled in to Tezos (XTZ).

After standard moves in line with the majority of major altcoins, XTZ/USD suddenly began to break out, gaining 24% on the day to become the best-performing cryptocurrency. The pair hit $6.53, its highest since mid-May.

XTZ/USD 1-day candle chart (Coinbase). Source: TradingView

The events coincide with increasing nonfungible token interest on Tezos courtesy of music star Doja Cat, and its blockchain handled 400,000 daily transactions for the first time this week.

Meanwhile, the largest altcoin, Ether (ETH), bounced off established support against BTC in a move that had Cointelegraph contributor Michaël van de Poppe excited.

“Expecting new highs,” he forecast after ETH/BTC reversed upward at 0.071.

ETH/BTC 1-hour candle chart (Bitstamp). Source: TradingView

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