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Bitcoin remains at $68,000 and Ethereum approaches highs in more than two months

Bitcoin remains at $68,000 and Ethereum approaches highs in more than two months

The week starts without great euphoria, but with key data for the cryptocurrency market. Bitcoin remains at the level of US$68,000 while, encouraged by the advance of the spot ETF, Ethereum rises more than 2%, exceeds US$3,900 and is approaching a historical level that should bring down, the u $s4,000.

The leading cryptocurrency has been slowed in recent days amid concerns about interest rates in the US and the lower optimism about the cuts on the part of the Federal Reserve (Fed) this year. Investors continue to moderate their movements and direct their gaze towards the dollar.

Etherem has been leading the gains with more than 26% in a week, while Bitcoin rose 2%.

Cryptocurrencies: What key levels the market sees for Bitcoin

However, the general sentiment about bitcoin remains positive and analysts consider that this week it will move between two levels where strong buying and selling pressure is concentrated: the great support of US$68,000 and the resistance scenario at US$69,800.

Thus, experts believe that if bitcoin falls just below that price zone it could generate buying pressure. On the contrary, overcome the resistance would mean the beginning of an intensive buying flow.

On the other hand, this Monday, Ethereum has strong gainss, close to reaching the level of US$4,000 and approaching a high of more than two months. The push comes from approval by the Securities and Exchange Commission (SEC), which opens the door for it to interact with fund operators.

The analysts’ forecast is that this approval of the Spot ETF triggers strong rally in Ethereum.

The rest of the market operates with slight increases of up to 2.7%, highlighting Shiba Inu, Ethereum (2.2%) and Solana (2.1%). TRON, Dogecoin (-1.8%) and Ripple (-1.4%) fall up to 2.3%.

Source: Ambito

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