In the cryptocurrency market, Bitcoin and altcoins have drawn the attention of traders again. A breakout to $125,000 for Bitcoin is anticipated, while Ether reaches new heights.
Bitcoin: Anticipating the Breakout
Bitcoin (BTC) remains around $18,500 as traders await a new price breakout. According to Cointelegraph Markets Pro, BTC/USD has held up after a drop below $117,000 on Friday. Traders point to resistance hindering Bitcoin's return to levels above $123,000. Popular trader Marcus Corvinus noted in a post on X, "BTC is getting ready for a big move."
Ether Sets New Records
Ether (ETH) has recently attracted attention by hitting a seven-month high. With Bitcoin consolidating, traders are increasing focus on altcoins. Over the weekend, ETH/USD traded above $3,750 for the first time since December 18, 2024. Trader and analyst Michaël van de Poppe described this movement as "absolutely phenomenal," indicating further growth potential.
Outlook for Altcoins
Despite Ether reaching new heights, many altcoins remain below their peak values. Analysis shows that most altcoins have fallen 50-80% since their December 2024 highs, creating potential for price recovery if the market continues to rise.
The cryptocurrency market situation remains tense, with hopes for a Bitcoin breakout and rising altcoin prices. However, traders are advised to exercise caution and monitor market changes closely.
