Although there has been an increase in tokens in recent days, the prices of Bitcoin (BTC) and Ethereum (ETH) have declined slightly.
While the change in Solana SOL, While SHIB was unable to sustain this rise, it fell to the $0.000027 level.
While this success of SHIB, in the face of minor declines in Bitcoin and Ethereum, has caught the attention of analysts, SHIB's commentary came from Rennick Palley, co-founder of cryptocurrency fund Stratos. Speaking to CoinDesk, Bali said that this increase in SHIB is due to interest from Asian traders. âPopular tokens are rising mainly due to the return of Asian traders to the market.
Most of them see their prices rise during Asian trading hours, around midnight US time. This token rally is a continuation of the excitement around the spot ETH ETF and the regulatory shift in the US to become more pro-crypto.
What does it take for Bitcoin to rise? Aside from Palley, Alex Kuptsikevich, chief market analyst at FxPro, also announced his predictions on Bitcoin. Kuptsikevich stated that Bitcoin has shown high volatility recently and has remained in a bearish trading range, and said that BTC needs to close above $70,000 daily for it to rally. A clear bullish breakout and daily close above $70,000 would break the downtrend in Bitcoin. âUntil then, we can expect Bitcoin to move around $68,000 as a classic development.
