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Bitcoin resumes its upward momentum targeting record highs while Ethereum and Ripple show bullish signals

Bitcoin (BTC) resumes its upward momentum after briefly dipping to $105,100 on Wednesday. The largest cryptocurrency by market capitalization is trading around $107,665 at the time of writing, up nearly 2% for the day.

Despite the calm in broader market sentiment this week, characterized by declining trading volumes and volatility, leading altcoins Ethereum (ETH) and Ripple (XRP) are showing signs of resuming their upward trend and maintaining the gains achieved in July.

"Markets have entered a state of calm as trading volumes hit their lowest levels in 9 months, and volatility hit its lowest levels in 21 months, indicating a potential slowdown in the summer despite the active July ahead," K33 Research highlighted in its latest report.