Cryptocurrency prices are on the rise, with notable gains seen in altcoins like ImmutableX, Morpho, and Turbo due to renewed investor interest. Bitcoin reached $97,340, supported by rising institutional demand, while Ethereum aims for crucial resistance at $1,861. Coinbase is halting MOVE token trading amid manipulation concerns, and Bitcoin consolidates after a weekly 10% surge.
In a positive turn of events, cryptocurrency prices are set to gain further momentum following a robust finish to April. The broader market’s recovery is indicative of a returning interest among retail investors. Leading the charge are selected altcoins, particularly ImmutableX (IMX), Morpho, and Turbo, which have seen significant increases in the past 24 hours, reflecting a bullish sentiment that seems to be reshaping the landscape of cryptocurrency investments.
Turning towards the price predictions, Bitcoin, Ethereum, and Ripple are capturing attention. Bitcoin hit an impressive $97,340, having successfully broken through the key resistance point of $95,000 earlier. Meanwhile, Ethereum is trading in a tight range between $1,700 and $1,861, edging closer to its upper limit. Should Ethereum successfully breach $1,861, analysts suggest it may rally towards reaching the psychologically important $2,000 mark.
In a notable financial move, Strategy, led by Michael Saylor, has raised a whopping $21 billion designated to acquire more Bitcoin, despite reporting a staggering loss of $4.2 billion in the first quarter of 2025. The surge in Bitcoin’s price to $97,310 throws light on the influx of institutional interest, which seems undeterred by any recent delays in altcoin ETF filings.
Concerns are brewing, however, as Coinbase prepares to halt MOVE token trading over fears of market manipulation. This decision comes in the wake of a routine review that suggested irregularities with Movement Labs’ token distribution and its governance structures. Speculation surrounding MOVE’s trading has raised serious questions about the future integrity of its market activity as it faces closer scrutiny.
Despite the fluctuations, Bitcoin appears to be consolidating after a notable weekly gain, having surged over 10%. Current trading values flirt around $94,000, showcasing resilience against market volatility. Analysts attribute this week’s performance to robust institutional demand, emphasised by a significant inflow of $2.68 billion into US spot ETFs reported up until Thursday.
As always, this information does carry risks and uncertainties. The views expressed by the authors in this article represent their opinions and should not be construed as investment advice. Investors are encouraged to conduct thorough research before entering any investment decisions. Remember, the world of cryptocurrencies can be fraught with risks, including potential for total loss of investment and emotional distress, so proceed with caution.
At the time of writing, the author holds no positions in stocks mentioned in this article and has not received any compensation apart from what FXStreet provides. FXStreet, along with the author, does not give personalised investment recommendations and disclaims any responsibility for errors or omissions in this analysis.
Investors should remain vigilant and not overlook the importance of staying informed about the cryptocurrency dynamics and emerging market shifts.
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