Crypto market recap: Bitcoin climbs to $114,000 amid major macro week
The cryptocurrency market advanced Thursday, with Bitcoin and Ethereum leading gains as investors weighed macroeconomic signals and valuation metrics.
Bitcoin (BTC) traded around $114,200, up 2.4% in the past 24 hours, while Ethereum (ETH) rose 2.4% to $4,400. Other major tokens, including Solana’s SOL, XRP, and Binance’s BNB, also posted modest increases, while Dogecoin outperformed with a 5% daily gain.
Valuation debate and market dynamics
Analysts highlight that Bitcoin may be trading below its fair value relative to U.S. M2 money supply growth. Research by CF Benchmarks pointed out that the gap between BTC’s price and M2 expansion is the widest since August 2024. Historically, such divergences in 2016, 2019, and 2021 preceded strong upside momentum. This setup has led some traders to describe the current market as a “catch-up trade” opportunity for Bitcoin.
Sentiment and indicators
The Fear and Greed Index stands at 47, signaling neutral sentiment after declining from higher levels earlier this week. The moderation in sentiment suggests that while investors are cautious, they are not retreating from the market. With macroeconomic uncertainty persisting, neutral positioning reflects a balancing act between optimism over digital asset adoption and concerns about volatility.
Looking ahead
Bitcoin’s latest surge coincides with broader gains across the crypto market and speculation that undervaluation relative to monetary trends could attract institutional inflows. As BTC consolidates above the $114,000 level, traders will be watching whether this momentum leads to a breakout or stalls amid upcoming U.S. inflation data and central bank policy signals.
Read also: Strong ETF inflows and SEC moves — Bitcoin gains 2.4% as price prediction turns bullish.
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