Bitcoin Rises While Ethereum, Dogecoin Slip — ‘Market Isn’t Going To Peak In The Next 6 Months,’ Says Popular Analyst – Grayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest (ARCA:BTC)
The world’s largest cryptocurrency continues to dominate the market, representing 62.2% of the total crypto market capitalization, which currently stands at $3.33 trillion.
Bitcoin’s dominance increased by 0.74% over the last day, while Ethereum’s share declined to 9.3%.
Federal Reserve Chair Jerome Powell signaled on Thursday that the central bank is reassessing its approach to inflation and employment as part of a major policy review.
The CMC Crypto Fear and Greed Index currently registers a score of 69, indicating “Greed” in the market. This represents a slight decrease from yesterday’s reading of 71 but remains elevated compared to last month’s score of 29, which signaled “Fear,” according to data from CoinMarketCap.
See Also: Bitcoin Holding Up While Ethereum, XRP, Dogecoin Dip: ‘Don’t Get Distracted By Short Term Noise,’ Trader Says
Meanwhile, traditional markets show modest gains, with S&P 500 futures up 0.0042% at 5,933.50, Nasdaq-100 futures gaining 0.020% to 21,404.50, and Dow Jones Industrial Average futures rising 0.026% to 42,396.00.
In other markets, gold has retreated to around $3,220 per ounce on Friday, heading for a weekly loss exceeding 3% as easing global trade tensions between the U.S. and China reduce its safe-haven appeal.
Top Gainers (24-Hours)
Disclosure: 82% of retail CFD accounts lose money
Analyst Notes: “Bitcoin has seen some resistance over the past week, being challenged to grow past the $104K to $105K level,” a crypto market intelligence platform, Santiment, noted on Thursday. “This temporary ‘pumping of the brakes’ has been enough to swing traders slightly bearish once again.”
Despite this short-term resistance, analyst Michaël van de Poppe believes the bull market has significant room to run. “This market isn’t going to peak in the next 6 months if we just managed to have a 4-year bear market on Altcoins coming to an end,” Martinez wrote on social platform X.
“The previous bear market was 2 years, and had 2 years of bull since. The 4-year cycle doesn’t exist anymore,” van de Poppe added.
Photo Courtesy: Yalcin Sonat On Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
