Bitcoin and Ethereum reach new highs; $5 billion in options expiring may cause volatility.
Bitcoin has recently continuously reached new highs, now rising to above $118,000, with Ethereum also following suit, briefly breaking through $3,000.
However, today there is a key point - $4.3 billion in Bitcoin options and $710 million in Ethereum options expire, like the 'routine test' every Friday, which may increase price volatility.
Currently, Bitcoin's 'maximum pain point' is at $108,000, and Ethereum is at $2,600, meaning if the price moves towards these positions, many options traders may incur losses.
Analysts feel that market sentiment is currently bullish, but institutions are still hesitating; it is not yet a time for crazy buying.
BNB is approaching $700, with token burns driving the increase.
BNB has been fluctuating between $630 and $690 recently, now rising to $686, nearing the key resistance level of $700.
There are two positive supports:
Firstly, the 32nd quarterly token burn has just been completed, burning 1.59 million BNB, making the token scarcer.
Secondly, the number of active addresses has increased significantly, from 400,000 to 900,000 - 1 million.
If it can stabilize above $700, it may rise to $730-$745; if it falls, $625-$635 is a key support level. Currently, indicators show bullish sentiment, but RSI is nearing the overbought zone, which may lead to a short-term correction.
XRP rises 8% to break $2.58, can it reach $6?
XRP recently rose 8%, now at $2.58, with trading volume increased by 168%, breaking through previous resistance levels. Large funds are also in motion, with whale wallets holding over 1 million XRP, totaling 47.32 billion coins.
Historically, XRP has surged significantly during bull markets, even increasing 800 times in 2017. Now, the technical indicators show it has broken out of years of consolidation, with a possible target reaching $3.8 (exceeding the 2018 high). If institutions participate more, it may reach $4-$6.
SHIB is rising, but this new project is attracting more attention.
SHIB is now $0.00001240, up 2.6% in 24 hours, with a market cap of $7.3 billion. The Shibarium in the ecosystem is still under development, and confidence is recovering.
However, many investors have their eyes on Remittix (RTX) - this project focuses on cross-border remittances, solving real problems. The pre-sale has raised $16 million, selling 550 million tokens, currently at $0.0811, with early buyers receiving a 50% reward, which may have more potential than SHIB.
Stellar rises 31%, with $0.30 being a hurdle.
Stellar (XLM) started well in July, rising from $0.22 to now, up 31%. But $0.30 is a hurdle, and it is currently stuck here.
In the short term, there may be volatility; long-term investors might consider buying slowly. If the weekly close can be above $0.334, it would be considered a real reversal upwards; otherwise, it may continue to oscillate within a range.
Overall, Bitcoin is leading the rise, with other coins each having their highlights, but short-term volatility may be significant, so key price changes should be monitored.
