With trade tariffs temporarily off investors’ radar and a new EU–U.S. trade deal announced Sunday evening, the crypto market has rebounded strongly. Bitcoin now hovers just below $120,000, while Ethereum is testing the $4,000 level—just shy of last year’s high and within striking distance of its all-time record, now only about $600 away.
Over the past 24 hours, Bitcoin gained more than 1%, while Ethereum surged over 3%. Among altcoins, standouts include Ethereum Layer-2 project Optimism, meme coin SPX6900, DEX PancakeSwap, and stablecoin issuer Ethena (USDe), each posting double-digit gains. XRP is up more than 2%, and Solana has climbed over 3%—bringing SOL close to the psychological $200 mark and XRP within $0.40 of a new all-time high.
Market Outlook: Fundamentals and Macro Data in Focus
Matt Hougan, CIO at Bitwise, commented that the classic four-year Bitcoin cycle is “dead” due to diminishing halving effects. According to Hougan, upcoming interest rate cuts and increasing institutional adoption will outweigh the halving’s impact going forward.
For the week ahead, traders will be watching the next Federal Open Market Committee (FOMC) meeting, PCE core inflation data, and quarterly results from major U.S. tech firms—each of which could significantly steer price action for Bitcoin, Ethereum, and the broader market.