This week, the value of the cryptocurrency sector surged by more than $350 billion, pushing its total worth to approximately $3.25 trillion. This growth also increased the daily trading volume to around $208.55 billion and boosted it by over 72%. As a result, Bitcoin managed to regain the price level of $103,000, with a market cap of $2.04 trillion.
After them, leading altcoins like Ethereum and Ripple showed comparable trends as they broke through significant price barriers. Specifically, the value of Ripple increased by around 5%, whereas Ethereum saw a double-digit percentage rise in just a few hours.
Are you among those considering investment in cryptocurrencies but unsure about their future prices? Take a look below; this article reveals the potential weekly price forecasts for the leading three cryptocurrencies based on market capitalization.
$3 Billion in Bitcoin, Ethereum Options to Expire Today
Today, approximately $2.65 billion worth of Bitcoin options I’ve invested in are due for expiry. There are 25,925 contracts up for grabs, which is fewer than the 26,949 contracts from last week.
From my analysis perspective, it appears that Ethereum is projected to see around 164,591 smart contracts this week, which is slightly less compared to the previous week’s figure of 184,296. The cumulative value of these contracts amounts to approximately $364.06 million. Notably, the maximum potential loss for these contracts is set at $1,850, as indicated by the put-to-call ratio of 1.43, suggesting a slightly higher demand for put options compared to call options.
Bitcoin Price Hits $104,000 Mark, Retests March High
Over the last week, the value of Bitcoin increased by 6.84%, pushing its price back up to around $104,000. Additionally, its market capitalization currently stands at approximately $2.05 trillion, which has boosted its market control to a dominance of about 62.98%.
In simpler terms, the Bitcoin chart shows that the Relative Strength Index (RSI) has gone beyond the overbought zone. Additionally, the Simple Moving Average (SMA) indicator seems to be providing robust support in a one-day time frame, suggesting that Bitcoin might maintain its upward trend next week.
Keeping the price above the $102,000 threshold might pave the way for Bitcoin to reach its potential target at $105,000. Continued bullish momentum could potentially drive the price up to $108,000. On the flip side, a rise in bearish sentiment could cause the price to dip towards its previous low of $98,000.
Ethereum Price Forms Higher Lows, ETH To Hit $2,500 Next?
Over the last week, the price of ETH has gained significant traction following the Pectra upgrade, rising by approximately 25.38%. This surge has propelled its value above the $2,300 threshold and brought it close to the heights it reached in March. Additionally, with a market capitalization of $280.07 billion, Ethereum currently holds around 8.61% of the overall crypto market share.
Starting from mid-April, the Moving Average Convergence Divergence (MACD) consistently shows a green histogram, indicating that its averages follow a similar upward trend. Additionally, the 50-day Exponential Moving Average (EMA) has crossed over positively, while the 200-day EMA hovers around the $2,400 level.
Maintaining a strong upward trend might cause the value of Ethereum tokens to reach around $2,750. But if the bearish sentiment prevails over the bullish one, Ethereum, the largest altcoin, could potentially drop back down to its previous low of $2,100 in the near future.
Will XRP Price Break Through $2.5 This Week?
Today, Ripple’s price surged approximately 5% following SEC confirmation. Currently, it holds the fourth largest market value among cryptocurrencies, standing at a staggering $137.76 billion.
In simpler terms, the Simple Moving Average (SMA) is showing a daily increase in value, and the Moving Average Convergence Divergence (MACD) is also indicating an upward trend with a growing green line. Additionally, the 12-day and 26-day Exponential Moving Averages are moving closer together, which typically signals a positive market direction.
If bulls manage to run faster than bears, there’s a possibility that the XRP coin price might challenge its significant resistance at around $2.50 again. Conversely, if the bearish trend becomes stronger, it could lead to the price falling towards its previous low of $2.00 in the near future.
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2025-05-17 20:35