Crypto Market Corrects Positively, Bitcoin and Ethereum Follow Macro Sentiment
The price of Bitcoin (BTC) is currently at US$114,914 on Wednesday, representing an increase of approximately 1.04% from the previous close. The global crypto market remains influenced by expectations of an interest rate cut by the Fed, which has increased the appeal of riskier assets like BTC. However, options data shows that some traders are beginning to prepare for a possible price decline, focusing on put options for BTC and Ethereum expiring in August.
Ethereum (ETH) is trading around US$3,661, up 2.2% in the past 24 hours. This increase was driven by regulatory changes in the US, including new market structure laws, which clarify Ethereum's role and increase its use cases. Furthermore, demand from institutional investors has also increased, with Ethereum ETF funds attracting significant inflows.
XRP is trading around US$2.99, while Solana (SOL) and Dogecoin (DOGE) are also showing positive movements. However, the altcoin market in general remains under pressure, with some assets experiencing price declines. Nevertheless, the long-term trend suggests potential growth, especially for projects with strong fundamentals and increasing adoption.
Overall, the crypto market is exhibiting attractive dynamics, with Bitcoin and Ethereum leading the rally, supported by favorable macroeconomic and regulatory factors. However, investors should remain vigilant about potential volatility and regulatory developments that could influence the future direction of the market.
Source: Newsmaker.id
