The total market capitalization of digital assets is approaching $2 trillion.
Cryptocurrencies start the week with relative calm. Bitcoin (BTC) shows a slight retraction in the last 24 hours, standing around US$51,300. Meanwhile, Ethereum (ETH) experiences a rally close to 2%, reaching $3,100 again; In the last week, the main ‘altcoin’ in the market has advanced more than 6%. The total capitalization of the digital asset market is approaching $2 trillion.
In the rest of the market, the trend is similar. Only Solana (SOL), Avalanche (AVAX), and Tron (TRX) start the week with positive balances, while XRP, Cardano (ADA), Dogecoin (DOGE), Chainlink (LINK), Polkadot (DOT), among others, they register falls of around 1%.
Bitcoin begins the week in a consolidation phase, remaining in the $51,000 range after surpassing $53,000 in recent days, driven by enthusiasm around exchange-traded funds (ETFs) at counted. Nevertheless, The current moderation has led analystssuch as those at JP Morgan, to point out a reduction in movements in and out of the funds, suggesting a decrease in their correlation with Bitcoin price movements.
Bitcoin: what the market expects
Despite the caution, most analysts maintain general optimism towards the future of the main crypto asset. However, some strategists are showing some short-term negativity, warning of the possibility of a deeper correction if the price does not rebound from the current level.
On the other hand, the future of Ethereum seems to receive a more positive view from investors. The expectation of clearance by the Securities and Exchange Commission (SEC) for the IPO of several cash ETFs Ethereum contributes to this perspective. Strategists, such as Bloomberg’s Eric Balchunas, suggest that these ETFs could gain regulatory approval next May.
Bernstein analysts highlight Ethereum’s strong position, with its staking performance, environmentally friendly design, and institutional utility for building new financial markets, positioning it favorably for widespread institutional adoption.
Source: Ambito
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