XRP, Doge, Sol See Profit-Taking, New High (Maybe) of Bitcoin can still rise higher
No, the bull run is probably not over. Bitcoin was pulled back from the highs of its record, and some alternative cryptocurrencies (Altcoins) have seen earnings. However, it appears that it is a common bull-market breathing, with analysts that closely monitor bitcoin price action around $ 125,000.
BTC hit record high on Sunday
This weekend, the BTC was pressed above $ 125,000 to a sign of the story of businessmen who priced easier financial and fiscal policy in the US against the back of the government’s ongoing closure. The market is likely to expect easier policies worldwide, including Japan, where the new PM is bias towards abenomics, an aggressive approach to emerging implemented by former PM Shinzo Abe.
The total capitalization of the crypto market increased to nearly $ 4.07 trillion, which raised the fear and greed index to 64. While that was a high reading, it dropped well at euphoric levels, indicating that there is a scope for more market risk. It leaves a room for bullish follow-through without the need for blow-off leverage to get there.
The driver under the hood still looks like the place demand and ETFs instead of a day squeeze, especially as the BTC moves come a week usually one day of thinner liquidity and lower action.
Little usual fluids of relatively small $ 65 million in BTC monitored futures lending to that opinion. However, a speedy backdown on Monday still suggests that some entrepreneurs do not want to hold income for long.
Getting revenue with the Altcoins, BNB stands
BTC prices dropped little by 1% in the past 24 hours, including and Ada’s leading Cardano losses to majors. XRP, BNB Chain’s BNB and Tron’s TRX drops as much 2%, while Ether Just lost at 0.5%.
Outlier on a weekly basis remains BNB, about $ 1,184 and up to 17% for seven days, telling us that the cycles still occur within the ecosystems when the base asset has a bid.
What’s next?
Increasing the volume of dry powder, or stablecoin supply, supports the bullish case in the BTC and and the broader crypto market.
Reports show the Stablecoin supply expanded by a record value last quarter-about $ 45 billion, with about two-thirds of the new release in Ethereum-and that’s the dry powder you want to see if the market will continue to be higher.
Add to that the backdrop of the US government’s ongoing shutdown that can delay the data and nominate central banks towards caution, and you get a narrative aligned with a clean picture on price charts.
Focus at $ 125k
Two experts read the glass in this setup. Nick Ruck in LVRG has framed a move as a hedge bid tied to institutional flow and inflation anxiety in a take consistent with ETF allocations that redefine dips.
Alex Kuptsianvich on FXPRO records a technical breakout and warns that long -term holders have been selling near levels since July. Both can be true. A range break invites the supply, and a trend only survives if fresh demand absorbs it.
“The next step can be an attempt to update the historic high approaching to $ 125K,” Kuptsianvich said. “At the same time, it is worth paying attention to the activity of long-term sellers, which actively selves near these levels since July: we can see a new phase of sale on the rise.”
My entrepreneur tends to treat $ 125,000 as a magnet and a test. Reach it quickly and fail, and we will know the supply is still in charge. Grind it as the funding will remain well, and likely gives way.
