Bitcoin is gathered to $ 111,000 with “weeks from the upper trend”; WLD leads weekly gains
Bitcoin rose to the highest new level ever at $ 111,807 on May 22, crowned a week of strong gains.
The total market value of the cryptocurrency increased to the highest level in four months by about 3.6 trillion dollars, which reflects a weekly gain by 6.5 %.
Meanwhile, emotional indicators were strengthened, with the Crypto Fear & Greed index high seven points to 78, and entered the “extreme greed” area for the first time since January.
However, Altcoins only witnessed modest gains over the past week, with a few of the best 99 noticeable increases in the late Asian trading hours on Friday.
Why did Bitcoin rise a lot?
Bitcoin’s latest gatherings came amid an increase in institutional demand, increased optimism about the regulation of American encryption, and a good dose of symbolic celebration.
On May 22 – also known as Bitcoin Pizza Day – not only the leading cryptocurrency, but also touched a record of $ 111,861, before restoring a little.
The importance of history, which celebrates the celebration of the first BTC treatment in the real world in 2010, will be likely to amplify the Saudi feelings through encryption societies.
This momentum feeds, as the fixed flow of capital to the Bitcoin investment funds listed in the United States has strengthened more institutional condemnation. More than $ 2.5 billion has been recorded of instant Bitcoin ETF flows during the past four trading sessions only.
At the same time, major companies such as Microstrategy continued to collect bitcoin as the origin of the Basic Treasury, which enhances his account as a long -term store of value and add another layer of demand pressure to the market.
The broader background also worked for Bitcoin. The main Stablecoin Bill, which was called the Genius Act of the US Senate, was submitted on May 20, which resulted in the revival of hopes in a regulatory framework that was clarified under a possible Trump administration.
Trading activity increased alongside feelings. The open interest through Bitcoin derivatives reached a new record above 722,000 BTC, or approximately $ 80.5 billion in virtual value.
It is worth noting that Bitcoin’s gains came despite a wider decrease in American stocks, indicating the axis of its usual association with the Nasdaq Stock Exchange. It adds weight to the fact that Bitcoin may come out of the shadow of Wall Street and carve his own novel.
However, Bitcoin, along with most Altcoins, witnessed a modest decline on Friday, as it fell to about $ 10,300. While this decline erases part of the week’s gains, it follows a common pattern in previous bull cycles and does not seem to indicate a broader reflection.
Market tensions were partially postponed through the trade tensions of the United States of America, after President Trump threatened a 50 % tariff on European imports. However, analysts see this as a tactic for hard -line negotiation than a confirmed policy, referring to the previous interactions with China.
What is the following for Bitcoin?
While the broader narration remains bullish, analysts monitor signs of high temperature while bitcoin hovers near the registration area.
The Crypto Fear & Greed Index in 78 “Greed Extreme” signals, a level previously in previous sessions.
At the same time, the Bitcoin’s relative indicator was flashing excessive conditions at its peak on both plans 12 hours and daily, which sits at 71 and 75, respectively, a possible warning that the market may need to calm before resuming its climb.
However, the data on the series indicates that the current upward trend is still mainly strong.
According to Cryptoquant’s IBRAHIM COSAR, “purchase orders have become dominant again”, as the cumulative size for 90 days has been preferred to buyers since May.
This pressure -led pressure contrasts sharply with the dominance of the sale aspect that was seen earlier this year, and it can be, as it is noted, to be “paving the way for another wave of upward movement.”
The profit achievement activity is still defeated, although Bitcoin traded 10 % higher than it was when it crossed $ 100,000 for the first time.
Glassnode data showed on Friday that “old currencies were less active this time,” providing some assertion that long -term holders choose to sit tightly instead of criticism.
The STH SOPR profit ratio, which tracks whether the new buyers sell with profit, were sitting at 1.02 at the time of writing this report, which confirms more that the assembly is not moved by short -term speculation.
In addition to the upscale feelings, analyst Cryptoquant Crypto Dan indicated Bitcoin financing, which rose but remains less than the peak levels that were seen during previous feverish gatherings.
“The high temperature of the futures market is almost not mentioned,” explained by Crypto Dan, adding that the market is “still in a healthy healthy stage.”
Another encouraging sign comes from the Bitcoin MVRV ZS-SCORIN, which compares the market value to the achieved value. In 2.8, the scale is still much lower than the red area that historically represents market peaks.
The well -followed analyst also agreed to the Rikt Capital that the current Bitcoin assembly has not lost yet Steam, indicating in a leaflet on May 23 × that he “has just started discovering prices to the top 2.”
While short -term fluctuations are expected, he believes that there are still “many weeks of the upward trend”, with any declines that are likely to be part of a broader direction indicating the continuous “overall upward trend”.
Bitcoin ending ranges range from analysts from $ 150,000 to more than $ 200,000.
For example, the continuous analyst Bitbull believes that the step exceeding $ 200,000 will be “real and fast”, after the outbreak of more than $ 111,000.
#BTC The upscale continuation from 111 thousand dollars to 222 thousand dollars will be a real and fast nullity point less than 100,000.
Fellow of Poseidon merchant analysis She supported the narration because it placed the minimum resistance above the current levels on the daily PTC/USDT.
When writing, Bitcoin has been priced at $ 109,297, an increase of 5.5 % in the past seven days.
Altcoin market summary
Over the past seven days, the maximum Altcoin market has jumped by 6.67 %, reaching about $ 1.44 trillion at the time of writing this report. Even with this height, the Altcoin season index sits in 28, which means that Bitcoin is still the main engine in the market. Altcoins move, but BTC leads the road.
Ethereum, the largest altcoin, decreased by the maximum market, by 0.4 % this week and is currently being circulated at $ 2578. The XRP decreased, and 1.6 % decreased. But others were better, as Solana (SOL) gained 5.9 %, Dogoin (DOGE) added 3.9 %, and Cardano (ADA) increased by 1.4 %.
Among the best 100 altcoins, WorldCOIN (WLD) led the package with a 35 % footnote, with a maximum market of $ 1.24 billion at the time of the press. The successor was the liquid rise (noise), an increase of 33.6 % to $ 36.38, and SPX6900 (SPX), which increased by 32.5 % to $ 0.9602. see below:
source: Coinmarketcap
The WorldCOIN Rally followed a $ 135 million financing round, backed by large names such as A16Z and Bain Capital Crypto.
Hyperleiid increased by more than 33 % this week, with the support of trading volume in open restrictions and benefits that helped reach the highest level at all times of $ 37.24 on Friday.
Most of the gains came after the Hyperlebeber team said they had officially responded to the US Commodity Future Trading Committee on the new regulations suggested for permanent barters and clock encryption circulation throughout the week. L1 Blockchain also recorded a rise in network revenue, which increased feelings of feelings.
As for SPX6900, it seems that its last gathering is related to the renewed interest of society after a decrease in the S&P 500 after the MOODY reduced from the US sovereign credit forecast. Looking at the spirit of the Spx6900 community of “Stock Market Stir”, morale often enhances when traditional financial markets show signs of weakness.
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