Ethereum

Bitcoin

April

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-rising-price-boosts-altcoin-market/" data-wpel-link="internal">Bitcoin’s Rising Price Boosts Altcoin Market</a> 
At the time of writing, Bitcoin’s price stands at $68,400, creating positive momentum for altcoins. After testing the $69,000 mark recently, we did not observe a significant pullback, which is extremely encouraging. We are witnessing movements that bolster the hopes of those anticipating a steady rise in cryptocurrencies as we enter October. 
<h2 style="text-align: justify" id="crypto-market-insights">Crypto Market Insights</h2> 
Over the weekend, BTC has been consolidating at higher levels, showing a positive trend compared to previous months. The last major pullback did not lead to a deeper bottom. Furthermore, BTC is once again approaching the $69,000 threshold after approximately 80 days. Analysts from QCP Capital addressed the current situation and shared their expectations. 
<blockquote> 
 “This week has been exciting for <a href="https://en.coin-turk.com/what-will-the-feds-decision-reveal/" data-wpel-link="internal">crypto</a>. BTC rose by 10.48% to reach the $69,000 level, making the psychological $70,000 mark visible. Will this rally continue without any significant macro data next week?” 
 The BTC ETF saw a substantial inflow throughout the week, ending Friday with an entry of $203.3 million and a six-day winning streak. Steady inflows into the ETF highlight the sustained strong demand from institutional investors. 
 With the <a href="https://en.coin-turk.com/bitcoin-and-altcoins-experience-significant-price-movements/" data-wpel-link="internal">SEC</a> approving the listing of BTC ETF options on the NYSE, we believe this will provide the necessary liquidity to attract sustainable inflows into the ETF. 
 Bitcoin dominance currently stands at 58%, marking the highest level since April 2021. As it approaches the key resistance at 60, we believe this sets the stage for a strong recovery in L1 coins. 
</blockquote> 
<h2 style="text-align: justify" id="what-should-crypto-investors-do">What Should Crypto Investors Do?</h2> 
Analysts believe that in contrast to BTC’s price increase, ETH has yet to reach the desired level. This may represent an attractive opportunity in the <a href="https://en.coin-turk.com/cryptocurrency-market-trends-bitcoin-leads-as-altcoins-gain-momentum/" data-wpel-link="internal">altcoin</a> market. Furthermore, growing interest in RWA is causing the Ethereum network to be utilized more actively by trillion-dollar asset managers. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-398749 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/10/ETHBTC_2024-10-20_12-40-02.png" alt="" width="1815" height="836"> 
<blockquote> 
 “While BTC is only 7.9% away from its all-time high, ETH is considerably delayed for a strong recovery, being 45% below its peak. With the fundamentals likely to improve, the potential for attractive returns is increasing.” 
</blockquote> 
The post <a href="https://en.coin-turk.com/bitcoins-rising-price-boosts-altcoin-market/" data-wpel-link="internal">Bitcoin’s Rising Price Boosts Altcoin Market</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Bitcoin’s Rising Price Boosts Altcoin Market

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