š Bitcoin Approaches $100K Amid Trade Deal Speculation
Bitcoin (BTC) is nearing the $100,000 mark, driven by optimism surrounding a potential U.S.āU.K. trade agreement hinted at by former President Donald Trump. Following his announcement, BTC surged from $97,759 to $99,140, approaching its all-time high of $109,000 set in January. Analysts attribute this rally to geopolitical developments and the Federal Reserve's decision to maintain interest rates, enhancing Bitcoin's appeal as a hedge against fiat currency volatility.
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š XRP ETF Faces Initial Setbacks
The world's first spot XRP exchange-traded fund (ETF), listed under the ticker XRPH11 on Brazil's B3 stock exchange, has experienced a nearly 10% decline over the past week. The ETF closed the May 5 trading session at R$19.30 ($3.47), ending the day down 3.5%. Over the past five trading sessions, the ETF has dropped by 8.70%, reflecting broader cryptocurrency market volatility.
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š Altcoin Season Index Signals Potential Shift
The Altcoin Season Index has broken a multi-month downtrend, currently standing at 29. This shift indicates early momentum as altcoins aim to recover from Bitcoin's dominance, suggesting a possible resurgence in the altcoin market.
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š Ethereum Poised for Breakout
Ethereum (ETH) has regained a significant support level, positioning itself for a potential breakout towards key resistance zones. Analysts suggest that if this level holds, ETH could witness a major upward movement in the next two weeks.
