Bitcoin recovers 108,000 dollars…Ethereum and other Altcoins also rise
The global virtual asset market is showing a gentle upward trend this week. Especially, Ethereum (ETH) and Bitcoin (BTC) are continuing their strength, positively influencing market sentiment.
As of the 6th, based on CoinGecko, a significant number of major cryptocurrencies rose more than 1% weekly. Ethereum rose 3.2% to reach 2,514 dollars, and Lido Staked Ethereum approached 2,513 dollars with the same rate of increase. It is analyzed that the increased on-chain activity after the recent approval of the spot ETF is leading the continuous buying trend.
Tron (TRX) recorded a 3% increase to 0.2831 dollars. It seems to be a result reflecting expectations for the expansion of demand for micropayment and decentralized services. Ripple (XRP) rose 1.3% to 2.22 dollars amid expectations for the conclusion of the lawsuit with the SEC. Binance Coin (BNB) also rose by 1.2% to reach 656 dollars.
Bitcoin recovered 0.8% to 108,147 dollars. While it is not yet a clear breakout trend, strong downside resilience and institution-led buying support the price. Dogecoin (DOGE) only had a slight increase of 0.2%, and stablecoins like Tether (USDT) and USDC maintained a steady 1 dollar state.
On the other hand, Solana (SOL) fell 2.3% to 147.34 dollars. It is analyzed that the surge in profit-taking after a short-term rise led to adjustments.
Overall, this week's cryptocurrency market shows altcoins resonating with the BTC-centered upward trend, and technical corrections are being detected in some stocks. The market is exploring the direction for the second half of the year centered on ETF fund inflows, regulatory easing expectations, and on-chain activities.