- Bitcoin reached a new all-time high before retracing to US$118,439, maintaining its US$2.35 trillion market cap dominance during Trump’s designated ‘Crypto Week’.
- Ethereum is surging towards annual highs at US$3,357, up 30% this month and approaching its January 2025 peak of US$3,473, though still well below its 2021 all-time high.
- Analysts are making bold predictions with CryptoKaleo suggesting Ethereum could reach US$25k and Bitcoin US$500k, while traders target Bitcoin’s next resistance at US$130k.
- Trump’s tariff policies continue creating market uncertainty as European leaders discuss responses.
After making a new all-time high at US$123,091 (AU$189,757), Bitcoin has retraced to US$118,439 (AU$182,668). The largest coin still has a market capitalisation of US$2.35 trillion (AU$3.62 trillion) out of the total US$3.79 trillion (AU$5.84 trillion) crypto market cap.
With ‘Crypto Week’ under way – so named by US President Donald Trump – it initially looked as though several bills wouldn’t pass, but after an intervention by the president, things are back on track.
Another Trump initiative – the tariffs – are also keeping market watchers on their toes as uncertainty continues. European leaders are currently discussing their response to Trump’s threats, with some countries calling for a strong EU-wide stance.
Meanwhile, Bitcoin dominance seems to weaken, prompting some analysts to call for an imminent altseason.
Related: CEPO Surges on Report Adam Back Will Seed It With 30,000 Bitcoin
Ether Trying to Go to New All-Time Highs
True or not, some altcoins have certainly been pumping – foremost, Ether (ETH), which is working its way toward a new annual high. Currently, ETH trades at US$3,357 (AU$5,175), coming close to a high set in January 2025 when it reached US$3,473 (AU$5,353) – up 30% over the past month.
Though it’s still short roughly US$1.5k (AU$2.3k) from the all-time high of US$4,891 (AU$7,539) set on 16 November 2021.
Analyst CryptoKaleo, who has more than 700K followers, said on X (Crypto Twitter) that market participants should raise their expectations for ETH – arguing we could be in for much, much higher prices and even eyeing US$25k (AU$38.5k).
Can Bitcoin Continue Its Run?
In another post he also said that Bitcoin could reach US$500k (AU$770k) within a few years. That sentiment was shared by Steve Grasso, CEO of Grasso Global, who made a similar prediction recently, mainly based on the market cap of gold – arguing that if BTC were to reach even half of gold’s cap, those price levels would come into view.
For the time being, traders are targeting the US$130k (AU$200k) mark, which analysts from Glassnode describe as the “2 standard deviation level above the short-term holder cost basis”.
The short‑term holder cost basis tracks what the most recent cohort of buyers paid; moving two standard deviations above that level has historically marked overheated, late‑stage rallies. On that framework, the next upside stretch target sits indeed near ~$130K.
Related: GameStop’s Cohen Calls Bitcoin an Inflation Hedge After $500M Buy
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