In one week, Bitcoin reaches a rise of more than 21%. Meanwhile, Ethereum is above $3,200. What are the expectations in the short term?
The Cryptocurrencies are still celebrating. Bitcoin It climbs strongly again and sets a new record of US$91,937.60. In this way, the possibility of reaching US$100,000 is increasingly latent in the short term.
In one week, the leading cryptocurrency reaches a rise of 21%. Meanwhile, Ethereum is above $3,200.
In the world of alcoins the outlook remains bullish: Dogecoin (DOGE), greatly influenced by Elon Musk’s role in Donald Trump’s government, It rises 8.2% and advances more than 97% so far this week. Another notable cryptocurrency is Ripple with an advance of 9% in the last 24 hours and a rise of more than 26%. Cardano, Shiba Inu and Solana also maintain a strong advance, more than 20% in the last 7 days.
Bitcoin ETF inflows rise
According to analyst Omkar Godbole, the increase in the last 24 hours generated liquidations of both bullish and bearish positions valued at more than $900 million. In turn, BTC and ETH spot exchange-traded funds (ETFs) continue to see very strong net inflows of capital. According to Bloomberg ETF analyst Eric Balchunas, assets in bitcoin spot ETFs have reached $84 billion in assets under managementthat is to say, two-thirds of what gold ETFs have. “Suddenly, there is a decent chance they will overtake gold before their first anniversary (we predicted it would take 3-4 years)”, he explained in a post on the social network X (former Twitter).
Rania Gule, market analyst at XS.com, highlighted that, after the recent rallies, bitcoin is currently in a “more developed phase compared to previous periods.” “While recent gains are encouraging, market environment data shows that the current rise in BTC is still below its historical growth after the ‘halving’ event, which supports the idea that it could experience additional price increases in the future,” said this expert.
According to this strategist, this would indicate that Bitcoin “is in a renewed cycle” that could help take its value to even higher levels. “Although expectations of the cryptocurrency reaching $100,000 may seem far-fetched to some, The continued price rise reflects a strong positive trend, supported by growing interest from large institutions that advise investors to increase their holdings of cryptocurrencies, especially BTC,” Gule noted.
Could a correction be coming in Bitcoin?
Gule also warned that the latest increases showed different indicators in “overbought” terrainwhich could indicate that there is a strong correction brewing. “Funding is very high (the highest since March) and core yields are at seven-month highs. While we remain structurally bullish, we are cautious about any setback”, QCP Capital experts explain in a recent report, while warning that similar increases in sight have not spread much over time.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
