#BTCBreaksATH110K The crypto market has been undergoing wild swings over the past few weeks, with all sorts of factors affecting major cryptocurrencies' prices. Here's a quick snapshot of how the market is shaping up:
Bitcoin (BTC) Price Trend
Bitcoin, the largest cryptocurrency$BNB in terms of market capitalization, has been in a narrow trading range, with its price fluctuating around $60,000. The cryptocurrency has been resisting at the $65,000 level, with investors holding on for a clear breakdown or breakout.
Upgrade
The Ethereum network has successfully rolled out its Dencun upgrade, which will enhance the scalability of the network as well as lower transaction fees. The upgrade is also likely to positively influence the price of Ethereum, with some analysts predicting a possible jump to $3,000.
Regulatory Developments
The cryptocurrency market has been paying close attention to regulations, especially in the United States. The Securities and Exchange Commission (SEC) has been looking into multiple cryptocurrency ventures, some of which have been sued for violating securities laws.
The cryptocurrency$BTC
market has been characterized by its volatility with prices usually influenced by the sentiment of the market as well as external factors like the general economy. Today, the market is experiencing both bullish and bearish trends with some investors wagering on a possible bull run while others are hesitant due to the uncertainty surrounding the market.
[Image: A chart displaying the movement in the price of Bitcoin and Ethereum over the past month]#MyEOSTrade