Bitcoin’s recent correction appears to have run its course, according to Standard Chartered’s Geoffrey Kendrick.
Galaxy Digital says bitcoin’s “maturity era” has slowed upside momentum as whales offload and ETFs absorb supply.
CryptoQuant says bitcoin could fall to around $72,000 within one to two months if it fails to hold the $100,000 support level.
The price move came hours after President Donald Trump said he expected to get a trade deal done with China soon.
President Trump's latest tariff threats against China caused the crypto market to plummet 10% heading into the weekend.
Some $9.55 billion worth of open interest has been erased over the past 24 hours, according to CoinGlass data.
The crypto market capitalization shed at least $125 billion when Trump first threatened countermeasures earlier on Friday.
Financial markets sold off on Friday after U.S. President Donald Trump threatened a "massive" tariff hike on China.
Over 100,000 onchain traders piled into BNB memecoins during the peak, with some wallets pocketing multi-million-dollar gains.
Shares of bitcoin mining stocks like Hive, Bitfarms, and Riot Platforms closed the day with gains in the double-digits.
The leading cryptocurrency's previous all-time high was set on Aug. 14 around $124,533, according to Coinbase.
The price of bitcoin and ethereum are rising alongside stocks, which have historically gained during similar shutdowns.
CryptoQuant says bitcoin has started Q4 under conditions that appear favorable for a price rally to $160,000–$200,000.
'Good sign for the onslaught of 33 Act ETFs coming soon,' Bloomberg Senior ETF Analyst Eric Balchunas said.
Bitcoin nudged toward $114,000 after August CPI matched forecasts, pushing markets to price a 25 bps Fed cut in September.
Ether’s monthly spot volume on CEXs overtook bitcoin’s for the first time in years amid institutional demand, The Block’s data shows.
The market appears influenced by billions of dollars rotating from BTC to ETH with Bitcoin down 8% and Ethereum up 14% in the past month.
The price of ETH, Ethereum's native token, set its previous all-time high of around $4,878 in November 2021.
Markets across the board traded sharply higher on Friday following Jerome Powell's dovish speech at Jackson Hole.
Analysts and industry leaders see further upside, with Standard Chartered raising its year-end target to $7,500.
The second-largest cryptocurrency is up approximately 40% since the start of the year, trading hands above $4,500.
Open interest in CME ETH futures also experienced a 75% increase, from $2.97 billion in June to a record $5.21 billion in July.
The price of Ethereum's native asset ether recently eclipsed $4,000 level for the first time in eight months.
The move comes amid rapid accumulation by Ethereum treasury companies and increasing ETF inflows in recent weeks.
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The latest dominance shift has been headlined by Ethereum's remarkable surge, climbing from $2,500 to $3,500 over roughly 10 days.
Earlier this week, XRP flipped Tether's USDT to become the third-largest cryptocurrency by market capitalization.
As the price of bitcoin crossed $115,000 for the first time, BlackRock's IBIT became the fastest-ever ETF to cross $80 billion in AUM.
While it’s still too early to say with certainty, we could be on track for another muted summer stretch ahead.
Standard Chartered expects the second half of 2025 to deliver bitcoin’s largest dollar rally ever and sees the coin at $200,000 by year's end.