The week started with a strong boost in the crypto market, but these gains quickly lost strength. Let's examine the major cryptocurrencies: Bitcoin, Ethereum, Solana, and XRP.
Bitcoin Analysis
Last week, Bitcoin's price increased by approximately 7.5%. However, activity metrics show a decline in transaction volume and active addresses. Meanwhile, activity from large investors, known as whales, shows interesting trends – they continue to accumulate coins despite price fluctuations. Stablecoins on exchanges have also decreased, which may indicate reduced liquidity.
Ethereum Analysis
Ethereum rose by 10% over the week, but metrics show a decline in transaction volume and circulation. This could indicate a 'regression to the mean' scenario. Currently, there's discussion about the creation of an Ethereum ETF, which could be a significant positive market factor. Additionally, slightly negative sentiment has historically preceded upward price movements.
Solana and XRP Analysis
Solana received a major boost due to collaboration with BlackRock, causing positive social media reactions. However, the meme-coin ecosystem within Solana shows decreased activity, which could impact the market in the future. XRP sees slight position declines, yet whales continue to increase their holdings. The completion of the Ripple vs SEC case might have long-term positive implications.
Despite positive signals, the crypto market also presents warnings: decreasing on-chain activity, overheated sentiment, and other factors. These elements could affect future price fluctuations.
