Ether experienced a notable 7% increase in the past 24 hours, buoyed by Bitcoin's steady ascent past the $109,000 mark. This uplift has stirred interest in the crypto market, allowing Dogecoin to rise over 5%, trading around 19 cents, while Cardano's ADA also gained 5% amid rekindled investor appetite after recent market volatility. Overall, the market capitalization climbed more than 3%, reflecting a 4% increase in the CoinDesk 20 (CD20) index.
The current crypto rally is partly influenced by recent US-China trade talks and anticipation of critical inflation data this week that may hint at future interest rate adjustments. Augustine Fan, Head of Insights at SignalPlus, remarked, "Bitcoin surged to around $110K as US-China trade talks resumed while the SEC greenlights new crypto ETFs, giving investors a renewed bullish sentiment. We anticipate a continuation of bullish trends as crypto attracts more institutions and retail investors."
Kay Lu, CEO of HashKey Eco Labs, commented that the response to last week's events may have been exaggerated, indicating strong market fundamentals underpinning the recovery. “The CPI data on Wednesday could be a key catalyst for price moves,” Lu added.
Jeff Mei, COO at BTSE, has cautioned that this crypto cycle may present unique challenges, with more options emerging for investors, which may complicate straightforward investment strategies. "This cycle will be more nuanced as crypto matures as a macro asset class," he stated.
Nick Ruck, director at LVRG Research, highlighted Bitcoin's resilience at the $109,000 level, which underscores its evolving role as a macro asset class. He noted, "ETF momentum has put crypto back on the radar for mainstream investors."
The current crypto rally is partly influenced by recent US-China trade talks and anticipation of critical inflation data this week that may hint at future interest rate adjustments. Augustine Fan, Head of Insights at SignalPlus, remarked, "Bitcoin surged to around $110K as US-China trade talks resumed while the SEC greenlights new crypto ETFs, giving investors a renewed bullish sentiment. We anticipate a continuation of bullish trends as crypto attracts more institutions and retail investors."
Kay Lu, CEO of HashKey Eco Labs, commented that the response to last week's events may have been exaggerated, indicating strong market fundamentals underpinning the recovery. “The CPI data on Wednesday could be a key catalyst for price moves,” Lu added.
Jeff Mei, COO at BTSE, has cautioned that this crypto cycle may present unique challenges, with more options emerging for investors, which may complicate straightforward investment strategies. "This cycle will be more nuanced as crypto matures as a macro asset class," he stated.
Nick Ruck, director at LVRG Research, highlighted Bitcoin's resilience at the $109,000 level, which underscores its evolving role as a macro asset class. He noted, "ETF momentum has put crypto back on the radar for mainstream investors."
