The cryptocurrency market is witnessing renewed volatility, with Bitcoin prices rising and Ethereum experiencing a correction. Additionally, there are political shifts.
Bitcoin Surpasses $118,000
After dipping to $112,600 earlier this week, Bitcoin ($BTC) has rebounded to trade above $118,000. The recovery follows a consolidation phase and renewed buying interest near major support levels. Analysts suggest the next hurdle may be at $120,000, where strong resistance could dictate the market's direction.
Ethereum Corrects After Breaking $4,300
Ethereum ($ETH) briefly broke the $4,300 level, signaling strong bullish momentum, before a minor pullback brought it to around $4,200. While the correction is seen as healthy, traders are closely monitoring whether $4,000 holds as a key support in the coming days. A sustained bounce from this level could pave the way to $5,000.
White House Adviser Bo Hines Steps Down
Bo Hines, who chaired the Council of Advisers on Digital Assets under the Trump administration, confirmed his departure, stating he will return to the private sector. Late last month, Hines led a cryptocurrency working group that outlined the administration’s stance on digital asset regulation, urging the SEC to draft specific rules for the sector. His resignation raises questions about continuity in U.S. crypto policy.
The cryptocurrency market remains cautiously optimistic, but political developments and macroeconomic conditions could trigger new volatility. Traders are advised to monitor price actions and policy news closely.
