Bitcoin, the largest cryptocurrency, has seen a significant price increase, leading to a new wave of optimism in the crypto market. This article examines key technical points and the effects on altcoins.
Critical Technical Break for Bitcoin
On July 10th, Bitcoin rose from $110,000 to $118,000 in a single day, breaking a long-term bearish trend. Experts note that maintaining a price above $112,100 is crucial for sustaining the bullish rally. Support levels of $112,100 and $107,300 become key for future growth.
Altcoin Rotation: Ethereum, XRP and Solana Lead
Bitcoin's sharp rise triggered altcoin rotation. Ethereum increased by 14%, surpassing the $3,000 mark, while XRP rose by 13% to reach $2.60. Solana showed over 8% growth, reaching $165. These changes may signal the start of a new altcoin season.
Future of Cryptocurrency Market and Its Prospects
The overall market outlook appears optimistic despite potential volatility. The weakening dollar and rising liquidity enhance investor interest in riskier assets. Experts predict that Bitcoin may continue toward $150,000 if the current trend persists.
With the recent rise of Bitcoin and improvements in market dynamics, altcoins are also showing positive results. Maintaining key price levels becomes an important factor for future trends in the cryptocurrency market.
