Bitcoin & Altcoin Surge: Market Shows Bullish Signs
The cryptocurrency market experienced a wave of optimism this week, with Bitcoin (BTC) and major altcoins showing impressive price increases. Bitcoin's price surged over 10% in the past seven days, approaching $94,000. Meanwhile, significant altcoins saw substantial gains: Ethereum (ETH) rose by 11%, Solana (SOL) by 4%, and XRP by 4%. Even meme coins like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) experienced remarkable rallies.
Bitcoin's Bullish Run
According to CoinMarketCap, BTC closed the week at $93,953. Several factors contributed to this bullish trend. Reports indicate that Japan's Metaplanet acquired an additional 330 BTC. Furthermore, Robert Kiyosaki's prediction of Bitcoin reaching $180,000–$200,000 by 2025 fueled market enthusiasm. This positive sentiment is further supported by $64 billion in BTC futures open interest (per Coinglass data) and $3 billion in inflows into U.S. spot Bitcoin ETF products.
Altcoins Follow Suit
The bullish trend wasn't limited to Bitcoin. Ethereum's price increase of 11%, nearing $1,800, is attributed to significant whale accumulation, with large investors reportedly acquiring $100 million worth of ETH. This positive momentum extended to other altcoins, with Solana and XRP also experiencing notable gains.
The overall positive market sentiment may be partly influenced by hints from Donald Trump about potential delays in certain tariffs. The rally also included meme coins, with DOGE, SHIB, and PEPE seeing price increases ranging from 12% to 21% this week.
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Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are volatile; conduct thorough research before making any investment decisions. Codeum and its affiliates are not responsible for any personal financial losses.