BTC price is above $63,000, expanding the movement space for altcoins. Excessive sales are about to reverse. For days, we mentioned that closures above $60,000 could invigorate the markets. Today, Powell’s statements, as expected, ensured the realization of this expectation.
Bitcoin (BTC)
The price, which has increased significantly compared to the previous week, is targeting $65,000. To break the new all-time high, $63,100 must be maintained as support. Beyond that, $65,000 can be tested. Investors are still cautious due to weeks of failed upward attempts.
Investors hopeful for a weekly close expect strong ETF inflows after Powell’s statements today. Data will start coming in a few hours. Buyer demand has revived on the Binance exchange.
Ethereum (ETH)
$2,681 was challenging for ETH, and today the key area was surpassed. It is now continuing the day with a 5% increase. ETF demand on the Ether side is likely to strengthen soon with the slowdown in ETHE sales. We had a similar process for the BTC ETF. At the time of writing, ETH reached $2,731, with the next stop likely being $2,930 and $3,000.
Then the rally is likely to accelerate. BTC price performance will of course be decisive here. The $70,000 scenario in the first section will also pave the way for targets above $3,000 for ETH.
XRP Coin Predictions
Losing $0.6 early, XRP Coin faced sales. This prevented it from benefiting much from the recent rise. The $125 million fine given to Ripple now means the end of a nightmare that has continued for years with minor scratches. Unless a new exhausting surprise process begins with mass appeals, XRP Coin investors might smile.
Considering the rapidly increasing supply since the last bull peak, prices in the $3 range will not be easy and will require much greater demand. The resistance at $0.63 is the first major hurdle that needs to be overcome. Closures below this level could mean the continuation of a boring consolidation process.
BTC was at $63,300 at the time of writing and was busy moving its new daily peak upwards.
