People pass in front of a sign of neon announcing a bitcoin and an exchange of Ethereum cryptocurrency in Warsaw, Poland, May 19, 2024.
JAAAP Arriens | Nurphoto | Getty images
Bitcoin got closer to its top of all time after a night rally which has also propelled ether to levels not seen since 2021.
The price of bitcoin was the last apartment at $ 118,981.86, depending on the metrics. Ether was also stable at $ 4,256.90, after having increased from Sunday to its highest level since December 2021. The two have exchanged their peaks of the day. Friday, Ether broke $ 4,000 for the first time since December.
The movements took place in parallel with an increase in term contracts on American actions earlier in the morning, while investors turned to a share of key inflation reports. The actions were negotiated at the dawn of the summits of all time to start the day, but have since cooled, withdrawing the cryptographic assets with them.
Actions of Jamming won almost 3%, Circle added more than 1% and Digital galaxy won 3%. Bitcoin proxy Strategy was more than 1%.
Given the way in which cryptocurrencies and hot actions took place in the second quarter, many investors expected a healthy and strategic recharge time in August, which historically proven a month of negotiation for trade, including on the cryptography market.
According to Markus Thielen, CEO of 10x Research, the crypto wave was largely fueled by the purchase during the negotiation hours of Asia, driven by the rapid expansion of the American debt of the American debt. He noted that Bitcoin’s rupture of his “consolidation” in early July coincided with the signing of President Donald Trump of the major bill, which included an increase in debt ceiling of $ 5 billions.
“Bitcoin’s escape is not random, it is fueled by the expansion of the fastest American debt in history and this momentum does not slow down,” he said. “Whether the economy remains strong or the recession is in recession, the flow of new debts is a rear wind for hard assets like Bitcoin and Gold.”
“The next level of major resistance at $ 133,000 is now in sight, with the positioning and the structure of the market promoting bulls,” he added.
Meanwhile, actions related to the price of ether Rallied, while entries in the new harvest of cash companies that recently emerged have increased the price of the second largest cryptocurrency greater than $ 4,000 – historically a difficult level for psychologically and technically investors.
Actions of Bitmine immersion technologies jumped 25% – after closing almost the same amount on Friday – while Gaming Sharplink won 11%. Last week, ETHE Ether experienced larger entries ($ 326.83 million) than Bitcoin ETF (246.75 million dollars), according to Sosovalue.
