The global crypto market cap is up by 3.51% and has surpassed $2.4 trillion at press time. The FGI shows 59 points for a neutral sentiment. What’s making the headlines is the speculation that a new ATH for Bitcoin is now on the horizon. The flagship cryptocurrency is again rising and inching closer to the $70,000 milestone. Ether is also expected to experience an increase in value to $4,000 following the launch of its ETF on the trading board.
Bitcoin for ATH and Ethereum for a surge
BTC is approximately $7,000 away from its ATH—all-time high value—and is projected to cover that road in the next 30 days. It can go as high as $84,000, provided it first achieves $74,000 in the next 5 days. The Bitcoin price has risen by 4.39% in the past 24 hours to $67,018.21. BTC has absorbed the pressure from the German government and Mt. Gox to instill confidence among investors.
ETH should have been trading higher, as its regulated investment product is now live in the market. Analysts, however, believe that the token is running a natural course as excitement around it has cooled down. Plus, Grayscale’s ETHE has exerted selling pressure for the third day in a row. Ethereum price has increased by 3.07% in the past 24 hours and is currently quoted at $3,270.32.
Meme Coins add Green Trades
The market cap of meme coins has increased by 4.27%, reaching a value of $50.29 billion. Dogecoin and Shiba Inu have made a decent recovery in a single day. There is still a gap of around $9 billion between their market cap, but tokens have risen by 4.60% and 3.39% in the last 24 hours, applicable in the same order.
DOGE is listed at $0.1297, while SHIB is exchanging hands at $0.00001681. Dogecoin is still in the top 10 cryptocurrencies worldwide. Shiba Inu holds the 13th position. By the end of the year, it is anticipated that their next high values will be $0.2 and $0.00002.
Other Gainers and Losers
XRP continued its rally with a 0.45% downswing. In the last 24 hours, BNB saw a 3.04% jump. XRP is listed at $0.6061. As it continues to be traded in the market, BNB is expected to rise much higher than $580.05. By the end of 2024, BNB is testing the resistance of $580 for a potential value of $650.
BONK gained 5.12% during the same time, reaching a token value of $0.00002804. WIF is strong at $2.59, but it has only grown by 1.79%. PEPE is up by 1.56%, reaching a value of $0.00001197. The sentiments of the native community strongly support the frog-themed meme coin, making it more likely to experience soft declines.
Conclusion
Bitcoin ($BTC) is again rising in terms of value, while Ethereum ($ETH) sees a cooldown after the third day of the Spot Ether ETF. The future remains bullish, with many attempting to fuel the adoption of digital assets across the globe.
Disclaimer: The article is only for reference and should not be considered as investment advice or recommendation.