The cryptocurrency market ended the week on a steady note, with Bitcoin holding above the US$110,000 level and Ethereum consolidating near US$3,900, as investors balanced optimism over easing global tensions against headwinds from a stronger US dollar.
Bitcoin started the week around US$110,900 on Oct 20 and traded in a tight range before closing near US$111,000 on Oct 24, according to data from Investopedia and Statmuse. Despite muted volatility, sentiment remained cautiously upbeat as traders awaited fresh macroeconomic cues.
Ethereum followed a similar pattern, beginning the week at US$3,985 and ending around US$3,934, suggesting consolidation rather than a breakout. The token’s price stability came amid modest inflows into decentralised finance markets and continued optimism over potential institutional adoption.
Market analysts said crypto assets benefitted early in the week from improved risk appetite, following signs of thawing US-China relations and growing expectations of a future Federal Reserve (Fed) rate cut, which supported broader risk assets. However, a resilient US dollar and rising Treasury yields tempered gains by week’s end, prompting profit-taking and a defensive stance among traders.
Looking ahead, market watchers expect near-term direction to hinge on upcoming inflation data, central bank signals and institutional capital flows into crypto-linked funds.
For now, investors appear to be treading carefully as they keep one eye on the charts and the other on the Fed.
