Bitcoin rises to US$93,000 and accumulates a 3.4% increase over the week | Cryptocurrencies

For Beto Fernandes, independent cryptoasset analyst, the market is still digesting the statements of Fed President Jerome Powell, who expressed doubts about the possibility of yet another reduction in interest rates in the United States.

“A lot of capital was shifted from AI companies to other, less volatile assets, as the balance sheets of many of them were lower than expected. As BTC has considerable correlation with tech stocks, there was, at the very least, pressure that prevented further purchases of the cryptocurrency, keeping its price more stagnant,” he said.

In a report, consultancy Vault Capital says the worst of the seller flow appears to be over and Bitcoin trading is “coming back to life” as trading resumes.

institutional investor in the segment. “Hoarders, who rarely miss macroeconomic trends, buy aggressively,” he says.

For Vault, the next step should be to return to the $95.5 thousand level.

Around 9:20 a.m. (Brasilia time), bitcoin rose 2.3% in the past 24 hours, trading at US$92,273, according to CoinGecko data. In reais, the digital currency increased by 1.22% to R$499,683, according to a quote from Cointrader Monitor.

Among altcoins, ether, a digital currency on the Ethereum network, rose 1.3% to US$3,237. Meanwhile, XRP, Ripple’s international payments token, rose 1.7% to $2.04; solana (SOL) recorded an appreciation of 5.8% to US$138.52; and BNB (Binance Smart Chain token) saw gains of 2.4% at US$885.78.

The combined market value of all cryptocurrencies in the world currently stands at $3.28 trillion.