Rise in the Crypto Market: Bitcoin, XRP and Dogecoin are Strengthening

In recent days, Bitcoin's price has shown an impressive increase, reaching the $118,700 level. Investor interest has grown due to the risk of a US government shutdown and tightness in Japan's bond market, with the cryptocurrency market showing strong performance despite these challenging macroeconomic conditions.

A US government shutdown brings with it the possibility of delays in economic data. Additionally, bond yields in Japan have reached their highest levels since 2008, strengthening expectations that global liquidity conditions may ease. This environment has boosted demand for both Bitcoin and leading altcoins, invigorating the market.

Not only Bitcoin, but other cryptocurrencies also showed significant gains. Ethereum's price rose 5.6% in the last 24 hours to $4,374, while Solana climbed to $223, seeing an increase of approximately 7%. Among the week's most notable performances, Dogecoin rose to $0.25, registering a 9% increase, and XRP's price stabilized at $2.97.

These increases have pushed the total value of the cryptocurrency market above $2.37 trillion. Analysts state that weak employment data, potentially influenced by a US government shutdown, could increase pressure on the Federal Reserve to cut interest rates. Jeff Mei, COO of BTSE, stated that these developments could support both stock and crypto markets.

Decreasing volatility is increasing investor interest. Augustine Fan, Head of SignalPlus Insights, emphasized that volatility indicators have fallen globally, creating a more stable ground in the crypto market. In the coming weeks, it is anticipated that Bitcoin's consolidation just under $119,000 and Dogecoin's strong performance will determine whether the crypto market can truly decouple from macro uncertainties.