#Dogecoin at 45%, #Bitcoin approached $106k amid renewed 'risk' market sentiment💰
According to ONE analyst, investors are quickly changing their views on Crypto now that altcoins have emerged from a negative trend and are facing buying pressure due to renewed sentiment towards risky assets.
Bitcoin has surpassed the six-figure mark for the first time in two months, coming just one step away from the $106,000 mark at the start of Asian trading on Saturday, as Crypto Markets showed a sharp rise amid improved macroeconomic sentiment and the latest Ethereum network update.
Analysts say that recent changes mark a decisive break in the sluggish price dynamics that have plagued altcoins for much of March and April.
Traders believe that Crypto may have finally found its second wind as a hedge against market uncertainty,” said Nick Rak, Director of LVRG Research, in an interview with CoinDesk in a Telegram chat.
President Donald Trump's bullish statements about upcoming trade negotiations between the US and China also helped ease market jitters. The comments coincided with the signing of a new trade agreement between the US and the UK that will eliminate mutual tariffs and reduce duties on American goods, further uplifting sentiment in both the stock market and Crypto.
President Trump's optimistic view on trade negotiations with China this weekend eases concerns about the escalation of the trade war, prompting traders to reallocate capital back into asset classes like cryptocurrencies,” said Jeff May, COO of BTSE, in a message to CoinDesk. “This could very well return Bitcoin to its historical high and potentially surpass it.”
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