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The Crypto Assets market has recently shown unique dynamics. Bitcoin, while maintaining a rising trend, has been relatively slow in its pace, touching a low of $118,055 yesterday, but not breaking the key support level of $118,000. Benefiting from positive CPI data, Bitcoin has returned above $120,000 today, and is expected to challenge the highs of $123,000 and even $126,000 in the short term.
At the same time, Ethereum has been performing exceptionally well, having broken through the $4700 barrier today, and is expected to reach $4800 soon. Market analysts point out that Ethereum's current momentum is strong, indicating active participation from institutional investors. It is expected that after breaking through $4800, there may be a brief pullback, but the support level is anticipated to be around $4500. In the long term, the range of $5000 to $6000 will be the next important target. It is worth noting that as early as the beginning of August, analysts predicted that Ethereum would break through $4000 and challenge $4800, and the current market trend aligns closely with expectations. More optimistic forecasts suggest that Ethereum may reach a high of $12000 by the end of the year.
In the coming week, the market may see some high-value small Crypto Assets performing well. However, investors should remain cautious towards high-risk small coins.
From a technical perspective, the trend of Bitcoin across various timeframes is on the rise. The weekly and daily targets remain unchanged, while the 4-hour chart indicates a pump target of $126,000, and the 1-hour and 15-minute timeframes show a continuous upward trend.
Overall, the current Crypto Assets market shows a steady rise in Bitcoin, with Ethereum leading strongly. Investors need to closely monitor market trends and manage risks appropriately.