📈 Bitcoin (BTC) $BTC Update
Current Price: $97,000
24h Change: +$3,036 (+3.23%)
24h Range: $93,587 – $97,513
Key Drivers:
Trade Talks Boost: Optimism over U.S.–China trade negotiations has lifted investor sentiment, contributing to Bitcoin's recent surge.
Institutional Interest: Reports suggest that Morgan Stanley may introduce spot cryptocurrency trading to its E*Trade platform, indicating growing institutional adoption.
Market Dominance: Bitcoin's dominance in the crypto market has reached 64%, the highest since 2021, reflecting increased investor confidence in BTC over altcoins.
Price Outlook:
Short-Term Resistance: $98,500 and the psychological level of $100,000.
Support Levels: $94,000 and $92,500.
Long-Term Forecasts:
Analysts from Unchained forecast Bitcoin could reach $250,000 by the end of 2025 and potentially $1 million by 2030.
Binance founder CZ predicts Bitcoin could hit $500,000 in 2025, citing institutional investments and favorable U.S. policies.
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🧠 Ethereum (ETH)$ETH Update
Current Price: $1,834.58
24h Change: +$47.71 (+2.67%)
24h Range: $1,757.58 – $1,845.68
Key Drivers:
Pectra Upgrade: Ethereum's Pectra upgrade, launched on May 7, aims to enhance scalability and usability, potentially boosting adoption and price.
Whale Accumulation: The number of Ethereum addresses holding significant amounts of ETH has increased, indicating strong confidence among large investors.
Market Sentiment:
Technical Indicators: Ethereum has historically seen strong performance in May, averaging a 27.36% gain, suggesting potential for a price rebound.
Analyst Views: While some analysts are optimistic about the Pectra upgrade's impact, others believe it may have a limited effect on price in the short term.
