Cryptocurrency market appears to have entered another phase of bullishness. Bitcoin (BTC), which has recovered the price of $117,000, has now reached $4.15 trillion. According to CoinGecko data, BTC is currently just 5.6% away from its all-time high The value of the $124,128 is approximately 8.4% higher than that in 2017. Ethereum (ETH) is now 8.4% higher than Bitcoin (BTC), the previous record-holder. away from its peak.
Bitcoin and Ethereum to Hit All-Time Highs this Week?
Binance BNB hit an all time high today of $962.08. BTC and ETH also seem to be chasing new highs, given their proximity to the respective peaks.
It is possible that the latest rally in crypto markets could be due high expectations for a rate reduction. There is a high probability that the Federal Reserve will announce their first rate reduction since 2025, even though inflation rose to 2.9% during August. Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies will continue to rise if Federal Reserve is dovish.
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In the past few weeks, ETFs have consistently poured money into Bitcoin (BTC), Ethereum (ETH), and other currencies. ETFs inflows, corporate treasury purchases and other factors have all played significant roles in the current currency market cycle. Combining this with an interest-rate cut could push the price of both assets up to levels never seen before.
CoinCodex analysts expect Bitcoin (BTC) to maintain its rally over the coming monthsThe platform predicts that BTC will hit a new all-time high of $136,766 on Dec. 12. Platform predicts BTC to hit $136,766 as a new high on December 12. To reach $136,766 at current prices will require a rise of 16.85%.
As with Bitcoin (BTC), CoinCodex also anticipates Ethereum (ETH) to continue its current upward trajectory.
On Dec. 14, the platform projects that ETH’s all-time peak will be $7573.21. The platform predicts that ETH will reach an all-time high of $7573.21 on Dec. 14.
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Source: watcher.guru
