The cryptocurrency market has shown a general recovery over the last 24 hours. Bitcoin has neared the $86,000 mark, while XRP registered a significant increase of 10%.
Significant Growth in Bitcoin and Altcoins
Bitcoin gained value during the Asian trading session, approaching the $86,000 level. Ether closed positively with a 3% increase. Assets related to Solana, Dogecoin, and BNB Chain saw rises below 6%, while Uniswap increased by 8%. This surge in Uniswap is linked to token holders approving a $165 million fund proposal.
XRP Growth and Ripple's Successful Case Closure
XRP stood out with a rise of up to 12%. The conclusion of Ripple Labs’ prolonged lawsuit with the SEC positively affected price movements. Additionally, it has been suggested that XRP-themed futures products will be launched for local investors in the region.
Expert Opinions and Official Statements
Former U.S. President Donald Trump stated that it would be more appropriate for the Fed to lower interest rates. According to Trump, rate reductions may be necessary due to changes in trade tariffs. Economic advisor Kevin Hassett disagreed with the Fed’s projected growth expectation of 1.7%, asserting that his forecast is closer to 2.5%. SignalPlus analyst Augustine Fan emphasized that the stabilization of the market led to this increase. Jeff Mei, the operations manager at BTSE, noted that market sentiment remains weak, but the lack of negative messaging from Fed Chairman Jerome Powell positively impacted prices. Investors are advised to remain cautious of increasing volatility in the upcoming weeks. Experts indicate that macroeconomic data and central bank decisions will be pivotal for the market’s direction.
The cryptocurrency market is recovering but remains influenced by macroeconomic factors. Bitcoin and other cryptocurrencies are rising, yet experts should remain cautious of market volatility.
