Bitcoin Breaks $100K, Ethereum’s Pectra Upgrade Boosts ETH, Fed Holds Rates: Weekly Crypto Recap
The post Bitcoin Breaks $100K, Ethereum’s Pectra Upgrade Boosts ETH, Fed Holds Rates: Weekly Crypto Recap appeared on BitcoinEthereumNews.com. There’s a lot to unpack from the past seven days, so let’s get straight to it. Let’s take you back to our previous Market Update from last Friday when BTC targeted $100,000 yet again. This transpired after the asset had gained over $20,000 since the early April lows. However, BTC was stopped there and couldn’t continue into a six-digit price territory. The weekend was sluggish, while the beginning of the new trading week brought some pain. In fact, BTC was stopped at $96,000 and pushed south to under $94,000 on May 6. With the US Federal Reserve expected to maintain the key interest rates at current levels (4.25%/4.5%), there was little hope on the horizon. That hope, though, came from reports claiming that the US and China will meet this weekend in Switzerland to discuss a potential trade deal. It seems that was all it was needed for Bitcoin to receive the much-anticipated boost. Within a day after this report, and a few more hints on the matter, the cryptocurrency finally broke $100,000 and skyrocketed to over $104,000 earlier today. This became its highest price since late January. Although it was stopped there and pushed south to the current $103,000, the asset is still well in the green on a weekly scale (6.3%). However, it has been dwarfed by its biggest competitor – ETH. After months of disappointing price performances, Ethereum’s asset has exploded by almost 30% on a weekly scale. It soared to almost $2,500 earlier today, which became a two-month peak. This impressive price revival came just days after the implementation of the latest Ethereum upgrade, Pectra. Other double-digit price gainers from the larger-cap altcoins include SOL, DOGE, SUI, ADA, BCH, HYPE, and SHIB. Market Data Cryptocurrency Market Overview Weekly. Source: QuantifyCrypto Market Cap: $3.380T | 24H Vol:…
The post Bitcoin Breaks $100K, Ethereum’s Pectra Upgrade Boosts ETH, Fed Holds Rates: Weekly Crypto Recap appeared on BitcoinEthereumNews.com.
There’s a lot to unpack from the past seven days, so let’s get straight to it. Let’s take you back to our previous Market Update from last Friday when BTC targeted $100,000 yet again. This transpired after the asset had gained over $20,000 since the early April lows. However, BTC was stopped there and couldn’t continue into a six-digit price territory. The weekend was sluggish, while the beginning of the new trading week brought some pain. In fact, BTC was stopped at $96,000 and pushed south to under $94,000 on May 6. With the US Federal Reserve expected to maintain the key interest rates at current levels (4.25%/4.5%), there was little hope on the horizon. That hope, though, came from reports claiming that the US and China will meet this weekend in Switzerland to discuss a potential trade deal. It seems that was all it was needed for Bitcoin to receive the much-anticipated boost. Within a day after this report, and a few more hints on the matter, the cryptocurrency finally broke $100,000 and skyrocketed to over $104,000 earlier today. This became its highest price since late January. Although it was stopped there and pushed south to the current $103,000, the asset is still well in the green on a weekly scale (6.3%). However, it has been dwarfed by its biggest competitor – ETH. After months of disappointing price performances, Ethereum’s asset has exploded by almost 30% on a weekly scale. It soared to almost $2,500 earlier today, which became a two-month peak. This impressive price revival came just days after the implementation of the latest Ethereum upgrade, Pectra. Other double-digit price gainers from the larger-cap altcoins include SOL, DOGE, SUI, ADA, BCH, HYPE, and SHIB. Market Data Cryptocurrency Market Overview Weekly. Source: QuantifyCrypto Market Cap: $3.380T | 24H Vol:…
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