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Bitcoin hits fresh high of US$122K as traders eye ‘Crypto Week’, CPI data, and central bank signals.
Crypto markets wrapped up the week with momentum on their side. Traders leaned risk-on, and the charts backed them up, majors closed strong, resistance levels were tested, and altcoins showed signs of life. It wasn’t just optimism, it was follow-through.
Over the past trading week, ETH gained more than 5%, despite a major hack on one of the world’s largest exchanges on Friday. The crypto industry responded with unity, as key players took action to manage the fallout.
As institutions double down on crypto, Bitcoin remains in a consolidation phase. XRP surged on ETF news and Grayscale filed for a Cardano ETF. Goldman Sachs invested billions in Bitcoin, and Abu Dhabi’s sovereign fund poured US$436M into BlackRock’s Bitcoin ETF.
BlackRock launches a European Bitcoin ETP as Litecoin rallies on ETF speculation. Institutional interest remains strong, while altcoins post mixed results amid market uncertainty.
The crypto market logged its fourth week of growth, with the total crypto market cap up 3.46% to US$3.39 trillion, driven by investor confidence, liquidity, and capital inflows.