The world's top cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have hit a lull this week, according to data from CoinGecko, with Bitcoin currently sitting at $30,399 and Ethereum remaining stable at $1,891.
This stalled momentum in the top two digital currencies comes despite recent waves of optimism around the approval of cryptocurrency exchange-traded funds (ETFs).
Among the altcoins, Binance Coin (BNB), the native coin of the Binance exchange, slipped by 0.1% to $237.65. Ripple-affiliated XRP, which was dealing with a lawsuit with the SEC, followed suit, showing a decrease of 0.2%, pushing the price to $0.484470.
Other significant players like Cardano (ADA) and Dogecoin (DOGE) have also seen minimal decreases, with ADA falling by 0.3% and DOGE remaining steady.
Arman ShirinyanSeasoned market analyst Aksel Kibar has predicted a potential surge in Bitcoin's (BTC) value, as it holds steady at around $30,640. Kibar suggests that the leading cryptocurrency might target a price point of $34,000, following a strong channel breakout.
However, Bitcoin first needs to overcome a short-term resistance at $31,000. The forecast is supported by a head and shoulders (H&S) pattern on the market, which signals bullish sentiment.
Vladislav Sopov
Dan Burgin