The cryptocurrency market shows growth with significant price increases for major assets. Bitcoin rises to $114,000, while Ethereum reaches $4,400. XRP regains support at $3.
Current Cryptocurrency Prices
Bitcoin has been priced at $114,000, Ethereum has risen to $4,400, and XRP has returned to $3. Dogecoin has also joined the trend, increasing by 16% and reaching a value of $0.25.
Liquidity Trends and Market Impact
CF Benchmarks analysts point out that Bitcoin might be undervalued considering the widening gap between the U.S. money supply (M2) and Bitcoin's price. Historically, such situations in 2016, 2019, and 2021 preceded significant rallies in cryptocurrencies.
Technical Analysis and Forecasts
Alex Kuptsikevich from FxPro noted that Bitcoin is in a delicate uptrend with $112,000 acting as the first key support level. The $115,000 level will determine the future trend. Optimism regarding Fed easing and historical liquidity patterns is creating a positive sentiment in the market.
Thus, despite positive macroeconomic signals and rising prices, the cryptocurrency market remains under pressure from technical factors, necessitating further analysis and observation.
