According to BlockBeats, recent market activity has been characterized by a period of consolidation, which analysts believe could set the stage for a potential upward movement. FxPro's Chief Market Analyst, Alex Kuptsikevich, noted that prolonged consolidation often builds momentum for future trends. He highlighted that the next significant trigger might be the employment market data expected on Friday.
Over the past five days, the market has experienced a narrow range of fluctuations with a slight downward trend. However, it has yet to break through its 200-day moving average, currently positioned at $3.01 trillion. Kuptsikevich mentioned that if global positive factors emerge, the market could surpass this level and potentially target the $3.5 trillion region. He also pointed out that the altcoin market might experience significant volatility.
