The cryptocurrency market shows positive trends after a recent sharp decline. However, analysts warn of possible risks in the coming days.
General Market Sentiment
Over the past three days, cryptocurrencies, particularly Bitcoin, Ethereum, and XRP, demonstrate signs of recovery after a sharp fall. Positive factors, such as a favorable US jobs report and the resumption of trade talks between the US and China, have contributed to this growth.
Outlook for Bitcoin and Altcoins
Bitcoin is currently trading at $107,663, attempting to reach the $112,000 mark. However, a negative consumer price index (CPI) report expected on Wednesday could trigger a new decline. Some experts suggest that if the CPI is lower than expected, it could lead to significant gains for leading cryptocurrencies.
Prospects for XRP and Ethereum
With the recent rise of Bitcoin, altcoin prices, such as XRP and Ethereum, also increased by 8% and 6% respectively. However, their prices face significant hurdles, and CPI results may have a significant impact on further price movements for these cryptocurrencies.
Despite positive trends, the cryptocurrency market still faces risks and uncertainties. Upcoming economic reports could significantly influence future price changes.
