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Bitcoin Surpasses $122,000, Ethereum Hits $4,300: Cryptocurrency Market Overview

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by Giorgi Kostiuk

2 hours ago

The cryptocurrency market showcases positive dynamics, with Bitcoin and Ethereum posting significant gains over the past week. Major markets are watching the upcoming Consumer Price Index (CPI) data, which may impact future trends.

Bitcoin Recovery

According to research firm QCP, Bitcoin (BTC) has surpassed $122,000, recovering from last week's losses. BTC shows a high correlation with US stock markets, highlighting its impact on the overall investment climate.

Ethereum Dynamics

Ethereum (ETH) is also performing strongly, increasing by 21% over the past seven days and reaching $4,300—the highest level since 2021.

CPI Influence on the Market

The CPI data, set to be released on Tuesday, is expected to influence the Federal Reserve's (FED) interest rate policy. Should the data fall short of expectations, it may strengthen forecasts for rate cuts in September.

The cryptocurrency market remains under pressure of uncertainty, despite current metrics showing optimism. Institutional investments and demand for Bitcoin ETFs could prove crucial for Bitcoin's further growth and the overall market's direction.

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Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.