Main Takeaways:-
- Ether and Dogecoin recorded the highest increase with a 9% surge, maintaining positive momentum from the past week.
- The wider cryptocurrency market observed a 1.7% surge in total capitalisation, with Bitcoin trading near $103,000.
- Although strong growth, traders are careful because of a stronger dollar and trade tensions, which could result in short-term cashing out.
Ethereum traded over $2,600, with Dogecoin near 24 cents. XRP, BNB Chain’s BNB, Cardano’s ADA and Solana’s SOL surged between 3%-5%.
Even though many major altcoins are seeing gains, crypto traders are becoming more cautious due to the larger financial markets and are warning that people may sell for profits in the short term. A stronger dollar and new trade issues are slowing down the market’s growth, even though Bitcoin is close to hitting record highs.
“The stronger dollar, caused by news of tariffs, has naturally slowed down cryptocurrencies,” said Alex Kuptsikevich, a chief market expert at FxPro, in an email to CoinDesk. “This is even more true because Bitcoin is close to its highest value, making people more likely to sell for quick profits after a strong rise in just over a month.”
As global markets move from being overly cautious to feeling cautiously hopeful, Bitcoin stays up in the air. The asset is once again caught between different stories or views for some traders.
“Bitcoin is still struggling between being seen as ‘digital gold’ and a risky investment,” said traders from QCP Capital in Singapore. “This confusion makes it hard to predict its direction. As the global situation shifts from focusing on protectionism to more positive trade expectations, Bitcoin might continue to move within a certain price range.”
However, the mood remains optimistic. The widely observed worry & investor sentiment index has remained consistently above 70 for four straight days, a “greed” level usually linked to a strong desire for buying in the market in the short term.
“Bitcoin revealed its erratic behaviour on Monday,” Kuptsikevich added. “But with the positive sentiment continuing, its value is giving attention to the price movement close to $105. Will we observe a boost or a fresh decrease? The answer will influence what happens in the next few days.
In other places, the latest asset flow report from CoinShares reflects $882 million in institutional capital movement, the third back-to-back week of robust buying.
BTC started with $867 million, while ETH observed just above $1.8 million inflows, even with an outstanding performance in the past week. Significantly, Solana (SOL) reported $3.4 million in outflows, even as trades bought heavily into $200 call options ending in late June, as reported.
Read also:- SOL Consolidates Near Key Level – Price Prediction Inside
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.
