The crypto market, led by Bitcoin, displays varied price movements confirmed by active institutional buying.
Bitcoin Holds Key Support
Bitcoin briefly rose above $110,000 earlier this week but retreated to $109,000. Despite large purchases, demand appears to be slowing with optimistic future expectations. Data from CryptoQuant indicates that while institutional buying remains strong, organic market interest has not reached the same level.
Ethereum and Altcoins Struggle for Direction
Ethereum has followed Bitcoin's trend, breaking the $2,500 level and reaching $2,600 before pulling back. Whale activity has increased, signaling significant ETH accumulation, while user engagement remains flat. XRP remains range-bound between $2.00 and $2.30 without clear direction, despite short-lived boosts from Ripple's banking license news.
Altcoins May Be Gearing Up for a Comeback
Despite market stagnation, several analysts anticipate a potential short-term recovery for altcoins. A decrease in Bitcoin's dominance may create space for altcoin growth, with some experts hinting at a brief altseason following price stabilization.
The crypto market remains in a stable phase despite large investor activity. Expectations concern not only Bitcoin but also potential growth for altcoins in the near future.
