Ripple Cryptocurrency

Caution dominated trading activity, amplified by Wall Street's closure for the Labor Day holiday and concerns over a BTC whale potentially divesting another billion-dollar tranche of BTC

The market analysts, however, remain optimistic, suggesting that ongoing macroeconomic factors point toward a potential trend reversal

This bullish momentum comes on the heels of US President Donald Trump signing an executive order to expand 401(k) access to alternative assets, aiming to improve returns and diversification

Ethereum has found its footing above $3,600, though it couldn't quite hold onto the gains that pushed it near $3,800 earlier this week

At last check, Bitcoin was trading around $118,071.31, down 0.41 per cent, with a 24-hour trading volume of $71.07 billion

Market analysts attribute this pullback to profit-taking among investors at higher levels

The flagship cryptocurrency touched a fresh high of $112,009, gaining nearly 14 per cent from its June 22 low of around $98,000

Market analysts, however, remain optimistic about the long run and expect the impact on the crypto market to be negative only in the short term

Bitcoin, however, has remained above the $109,000 mark as bulls maintain control despite brief selling pressure from US nonfarm payroll data, said analysts

Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, briefly surpassed the $2,500 level but failed to hold gains

With the US Dollar Index hitting a multi-year low, analysts believe Bitcoin is increasingly being viewed as a resilient high-growth asset in times of macroeconomic uncertainty.

Market analysts believe that the dovish comments from the US Fed on recession and rate cuts have boosted market sentiment, contributing to the bullish momentum

Market analysts suggest that the ceasefire alleviated immediate concerns about global oil disruptions and restored geopolitical stability, elevating the confidence of the crypto bulls

Bitcoin, analysts said, is in a phase of consolidation due to global macroeconomic uncertainty

Vikram Subburaj, CEO of Giottus Crypto Platform, believes that there is a strong likelihood for Bitcoin to consolidate at current levels and undergo a short squeeze towards $109,000

Analysts believe that the regulatory developments such as the GENIUS Act and Thailand's recent five-year tax exemption policy are shaping a new global crypto landscape

Market analysts suggest that Bitcoin's current consolidation near $107,000 reflects short-term seller control

Bitcoin (BTC), the flagship digital asset, held firmly above the $106,400 level after briefly dipping to $103,200.

CoinDCX owns a total of $606.61 million in assets, reaffirming its strong reserve position

The flagship cryptocurrency Bitcoin (BTC), which scaled a record high of $111,970.17 last week, plunged to $104,684.72, its lowest level in seven days, on Friday, May 30