Bitcoin held steady above US$ 114,000 this week, gaining around 3% over the past seven days as investors positioned ahead of key US inflation data. Analysts highlighted that the cryptocurrency is trading below its fair value when compared with American M2 money supply growth, a divergence that has historically signaled upside potential. Similar setups in 2016, 2019 and 2021 preceded rallies. Still, in the short term, traders remain cautious and eye resistance at US$ 115,000, awaiting macro signals on interest rates.
Ethereum also advanced modestly, ending the week near US$ 4,430. The token ends the week within the same threshold, reflecting broader market optimism but underperforming bitcoin’s momentum. The stability in ether’s price comes amid a continued buildout of decentralized finance activity, although analysts note that the performance remains more closely tied to broader tech market sentiment than with bitcoin alignment.
Among smaller ones, XRP showed stronger gains, rising nearly 6% over the week to break above US$ 3. The rally was partly fueled by renewed retail flows into altcoins as bitcoin consolidated, but technical traders also pointed to improving momentum. Analysts warn that the recent gains in XRP and bitcoin might not last, as charts suggest a possible “false rally”. If US inflation comes in higher than expected, prices could quickly reverse.
Solana stood out in the top 10 with an 8.5% weekly climb to US$ 225, supported by record activity in its ecosystem. Total value locked on the Solana blockchain rose to US$ 12.2 billion, up 57% since June. Analysts now caution that this progress depends on risk appetite across the crypto market and global liquidity.
Other news
Beyond price action, the market also tracked key corporate and funding moves. Figure, a blockchain-based lender, priced its IPO at US$ 25 per share, raising nearly US$ 788 million, underscoring how capital markets are opening up again to digital finance players. Meanwhile, the Avalanche Foundation was reported to be seeking a US$ 1 billion raise to fund new crypto treasury companies, pointing to fresh institutional interest in blockchain.