- Bitcoin is on an upward trajectory and will find resistance at $60K prior to reaching all-time highs.
- Ethereum might follow suit, with the potential introduction of a spot ETF in the works.
- In the meantime, can Solana overcome barriers to reveal its true interest?
After getting the landmark $59K resistance, Bitcoin, the world’s largest cryptocurrency, appears to be going for a new all-time high.
While Bitcoin has been on a good climb, up 34% since the beginning of the year, other cryptocurrencies are also showing great growth possibilities.
Ethereum, Bitcoin’s major competitor, had a 43% year-to-date return. In the meantime, Solana, the fifth-largest digital currency by market value, is up 8% since the beginning of January.
Anticipation in the crypto space originates mostly from Bitcoin’s expected halving, which has historically generated strong demand both before and after. Also, the recent launch of ETFs has enticed investment into Bitcoin, reflected positively on its spot price.
Bitcoin Hits $60,000 And Targets All-Time Highs?
Bitcoin has been surging in recent weeks, making it difficult to identify a better entry position at a cheaper price. If Bitcoin can break through the next conceptual barrier of $60,000, it will clear the path for an effort to hit the historical top of $69,000.
MicroStrategy (NASDAQ: MSTR), a major Bitcoin investor, has increased its involvement in the buyer side. At present, its entire coin holdings are at $6.09 billion, with an extra $155 million added during only the last few days.
Additionally, funds continue to pour into newly created ETFs. Since its introduction on January 10, the total amount of funds distributed has already surpassed $6.1 billion.
Ethereum Approaches Key Resistance levels: Can It Break More?
From the perspective of technology, Ethereum bulls confront a major test around $3400 per coin before potentially attacking all-time highs.
Only if the suggested area is broken will buyers be sure about achieving new highs. Two other variables are important to highlighting: the imminent Dencum update and the prospective launch of a spot ETF on Ethereum. This might result in a similar demand effect as Bitcoin.
Solana Expands, With A Breakthrough Over the Horizon.
Solana, compared to Bitcoin and Ethereum, began the year with a stabilization phase.
The major difficulty facing the ecosystem as a whole right now is network breakdowns and interruptions, which prevent it from reaching its full capacity.
Yet, Solana’s trading volume on decentralized exchanges (DEX) topped the platform’s early in the month, indicating continued interest.
To restart regular rise, Solana must overcome its recent high, which was generally $124 per coin.
Release: The purpose of this content is only to provide knowledge. Readers have to do their own research before making investment decisions.
