Deng Tong, Jinse Finance
This morning, BTC and ETH both rose significantly. According to CoinGecko data, BTC price reached a high of $110,266.
ETH price reached a high of $2,705.80.
What is driving the rise of BTC and ETH? What factors are currently influencing the crypto market? How high will BTC and ETH go?
I. New Developments in China-US Trade: US Considers Lifting Export Controls in Exchange for China's Rare Earth Export Relaxation
On Monday afternoon, the first meeting of the China-US economic and trade consultation mechanism was held in London, UK.
... [rest of the text continues in similar professional English translation]Will ETH Rise Above $3,600?
Currently, ETH price has returned to above the midline of the Gaussian channel (a dynamic market trend indicator). The Gaussian channel or normal distribution channel plots price fluctuations within a dynamic range to adapt to market volatility.
Ethereum Gaussian channel analysis.
Historically, when Ethereum breaks through the midline of the Gaussian channel, a rebound occurs. For example, in 2023, ETH surged 93% to $4,000 after breaking through the midline; in 2020, ETH skyrocketed 1,820%.
As ETH stabilizes above the key indicator of $2,570, technical analysis predicts that if the momentum continues, ETH could rise to between $3,100 and $3,600, thanks to the channel's historical accuracy in predicting short-term gains.