The cryptocurrency market has rebounded again. While Bitcoin (BTC) maintains a stable flow above $119,000 (approximately 165.41 million won), major altcoins such as Ethereum (ETH), Ripple (XRP), and Binance Coin (BNB) are showing notable upward trends. In particular, BNB is emerging as the leading driver of this rally by setting a new all-time high.
The global market capitalization, according to CoinMarketCap, is approximately $3.96 trillion (about 5,504 trillion won), up 1.82% from the previous day. Bitcoin's market share has slightly decreased, indicating funds are being diversified into altcoins. The 'Fear and Greed Index' has entered the 'Greed' stage again, recording 67.
Ethereum's movement is the first to catch attention. Currently trading at around $3,890 (approximately 5.41 million won), it has risen more than 3% in a day. The market expects ETH is likely to break through $4,000 (approximately 5.57 million won) soon. Particularly, the 4,200-4,300 dollar range (about 5.85-5.98 million won) is expected to act as a major resistance level.
BNB was undoubtedly today's star. Binance's token, BNB, soared 6% to reach $851 (approximately 1.18 million won), setting a new all-time high. This is a phenomenon arising from investors realizing some profits from Bitcoin and diversifying funds into quality altcoins. With liquidity spreading, various coins are continuing short-term rallies.
Meanwhile, XRP also rose to $3.27 (approximately 4.54 million won), recording a 5.8% weekly increase. Despite ongoing legal battles with the SEC, market confidence in XRP is maintained, with positive influences from ETF expectations and expanding utility in international payments.
The variables adding upward pressure to the market are complex. Bitcoin's all-time high weekly close, the 90-day trade tariff suspension between the US and China, and trade negotiations with the European Union (EU) have lowered global uncertainty and stimulated investment sentiment. The decreased market share of stablecoins and BTC has also been a catalyst for moving funds towards altcoins.
Market experts diagnose the current situation as being in the midst of a typical bull market. Particularly, analyses suggest that the peak of the overall uptrend could be formed in October-November. In September, a vote on the Crypto Market Structure Bill is scheduled in the US Congress, which could be a critical turning point for future trends.
Ethereum breaking $4,000 and Bitcoin's next target range of $127,000-$132,000 (approximately 176.53-183.48 million won) are the market's short-term focuses. If this altcoin-led trend continues, forecasts are gaining strength that additional market strength is likely.
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