The total market capitalization of cryptocurrencies has decreased to around $3.23 trillion, down 4.69% from the previous week, indicating a moderate corrective wave after weeks of consecutive increases.
The Fear and Greed Index currently records 74, indicating a 'greed' state in the market, which may suggest the possibility of a price correction soon.
📈 Technical Analysis for Bitcoin (BTC)
Current Price: Approximately $106,000.
Resistance Levels: $110,000 – $111,900. Breaking this range could push the price towards $116,000, and possibly $120,000 later.
Support Levels: $105,000 – $100,000. Breaking this range could lead to a drop towards $92,000.
Forecasts: Some analysts expect Bitcoin's price to reach $118,000 over the next month, an increase of approximately 9.8%.
🪙 Altcoin Performance
Ethereum (ETH): Currently trading above $2,650, with expectations of rising to $2,840 over the coming weeks.
Dogecoin (DOGE): Analysis suggests it could rise by 225% if it surpasses the $0.27 level, with positive technical signals such as the formation of a 'cup and handle' pattern.
Meme Coins: Some coins like VIRTUAL, WIF, and PENGU have seen significant increases, reflecting continued speculative momentum in the market.
🧭 Influential Fundamental Factors
US Regulations: The GENIUS bill has been passed in the Senate, imposing restrictions on stablecoins and preventing the offering of yields on them, which may affect the stablecoin market.
Federal Reserve: Kept interest rates unchanged, with expectations for a reduction later this year, which may support riskier assets like cryptocurrencies.
Institutional Movements: The market has seen significant flows from institutions, with major companies announcing massive investments in Bitcoin, boosting confidence in the market.
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📊 Forecasts for Next Week
Bitcoin: It is expected to continue trading between $100,000 and $110,000, with the potential to break this range if positive news arises.
Ethereum: It may target the $2,800 level, especially if positive momentum continues in the market.
Altcoins: May experience high volatility, with the potential for significant gains in some smaller coins, but with high risks.
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✅ Recommendations for Investors
Risk Management: Due to anticipated volatility, it is advised to set stop-loss and take-profit levels accurately.
News Monitoring: Focus on regulatory and economic developments, especially regarding US policies and interest rates.
Portfolio Diversification: Distributing investments among Bitcoin, Ethereum, and some strong foundational altcoins to reduce risks.