In recent days, Bitcoin, Ethereum, and XRP have shown significant price increases, setting new records and attracting institutional investor interest.
Bitcoin Hits New All-Time High, $130K in Sight
Bitcoin (BTC) reached a new all-time high on July 9, testing the level at $111,980. Since then, the largest cryptocurrency has opened the door to new heights, approaching the $130,000 target. Bitcoin's current price level is 11% below the expected mark of $130,935. Trend indicators confirm the positive sentiment, although there are signs that Bitcoin may be overvalued.
Ethereum and XRP Price Rally
Ethereum (ETH) and XRP are also displaying growth, following Bitcoin's lead. Ethereum surpassed the important resistance level at $3,000, while XRP reached a peak of $2.70, the highest level in nearly four months. Ethereum is expected to reach the $3,500 level, while XRP is trading above the key resistance level.
Top 3 Cryptos On-Chain Analysis
On-chain analysis of the top 3 cryptocurrencies reveals that Bitcoin traders are consistently taking profits. Meanwhile, the number of Bitcoin holders has decreased, coinciding with rising prices. At the same time, Ethereum and XRP are seeing an increase in the number of holders. Institutional investors continue to accumulate these assets.
In the current situation, there is a clear rise in prices for Bitcoin, Ethereum, and XRP, linked to increasing institutional interest and the confident mood of traders. Future changes in regulatory policy and the economic situation may impact upcoming trends in the market.
