The post Bitcoin Targets $100K, Ripple Sees Setbacks on Stablecoin, ETF Fronts: Your Weekly Crypto Recap appeared on BitcoinEthereumNews.com.

The past week was a lot less volatile than the events that transpired at the start of the month, when BTC’s price tumbled hard to a five-month low. In contrast, the cryptocurrency now moves in a much calmer but more positive manner. Recall that bitcoin flew past the $90,000 milestone on April 22 and hasn’t looked back. In fact, the asset kept climbing in the following days and challenged $96,000 on a couple of occasions, but to no avail. Although it was rejected at every turn, the subsequent corrections were nowhere near as painful as the price crashes that occurred in early April. Just the opposite; BTC began trading in a tight range between a lower boundary of $93,000 and an upper one at $96,000. It stood there for several consecutive days, as the bears tried to push it below the support line. However, each attempt was met with immediate buying pressure, which didn’t allow another breakdown. In fact, bitcoin went on the offensive once again yesterday as its price jumped above the upper boundary and kept increasing to a new multi-month peak of over $97,000 as of now. This came as analysts highlighted the formation of a familiar pattern, which has historically led to immediate gains. Miner data also suggests that BTC’s bull run has restarted, as bitcoin’s price recently dropped to a local bottom compared to the average miner cost of production. For now, though, BTC remains inches above $97,000 with all eyes set on the $100,000 target. The asset is up by 3% on a weekly scale, which is better than most larger-cap altcoins, aside from ETH, HYPE, AAVE, and XMR. Perhaps that’s why its dominance continues to chart new multi-year peaks. Market Data Cryptocurrency Market Overview Weekly. Source: QuantifyCrypto Market Cap: $3.133T | 24H Vol: $82B…

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Filed under: News - @ May 2, 2025 3:27 pm