The weekly close for digital currencies is approaching while they are still trading at bearish levels, and Bitcoin is trading near $61,240, up 0.4%.
Ethereum is trading at $2929, up 0.56%, and Dogecoin and Shiba Inu are down 0.75% and 1.12%, respectively.
Cryptocurrency markets have been lulling into a lull as digital assets have stabilized over the past few weeks, testing investors' faith in whether the bull market will resume.
Any attempts at a sustained rally over the past weeks have been unable to stick, with the latest downturn on Friday as the price of Bitcoin (BTC) fell nearly 5% from $63,000 to above $60,000 due to depressed inflation expectations and tough comments from reserve officials. Federal.
Blockchain activities also indicate low participation, as transactions on the Bitcoin network have declined significantly and Ether (ETH), the second largest digital currency, has become inflated. We've been here before.
The current period resembles the period from April to September 2023 when Bitcoin was stuck in the $25,000-30,000 range for six agonizing months. Ultimately, the cryptocurrency managed to sustain a multi-month rally, with BTC eventually reaching an all-time high in March of this year.
