Altcoin season confirmed: CMC Altcoin Season Index rose to 56. Pudgy Penguins (+53%), Ethena (+59%) leads. Conflux surges 100% to $0.28 with 3.0 upgrade & stablecoin partnership. Altcoins outpace BTC’s pullback.
💸 Ethereum rockets to $3,844, eyeing $4K. Many ETH are staked in DeFi leaving limited supply in the market to absorb such a high influx of demand, pushing price up. Institutional interest is booming. Last week alone saw a ATH $2.12B flowed into ETH ETPs. ETH market cap now ranks 28th globally, overtaking Vanguard.
📌 MicroStrategy adds 6,220 BTC ($740M) at $118,900/BTC. Global ETP turnover hits $39B. US firms add ETH to treasuries, BNB sees similar appetite. Crypto’s mainstream push grows.
🧊NFT market rebounds: CryptoPunks, Moonbirds, and Pudgy Penguins lead with strong communities. Arthur Hayes’ CryptoPunk PFP signals attention-driven surge. Previous cycle stars like $BLUR gained traction.
📌 BTC technicals: Consolidating at $116K-$120K, support at $115K-$116K. RSI at 71% hints at parabolic run to $125K-$127K. Head-and-shoulders pattern supports upside, but $110K test possible if momentum fades.
📌 ETH technicals: Running wedge since $1,700, now at $3,844. Resistance at $4,100-$4,200, could it hit another $4,891 ATH soon? ETF inflows amplify price sensitivity. $5K medium-term target.
📌 Market cycle shows 0/30 top signals triggered, suggesting more upside. Community buzz on XRP’s ETF updates, & NFT resurgence. Altcoin season drives optimism.
📌 Will BTC hit $127K or ETH break $5K? Stay ahead with CoinMarketCap’s AI tools & community hub.
🎧 Watch the full weekly crypto forecast below for deeper insights into these trends
