Bitcoin rallies amid macroeconomic concerns — Are HYPE, ONDO, RNDR and KAS next?

Key Points

  • Bitcoin made a strong comeback this week, rising over 7% and showing solid buying at lower levels.
  • Technical charts indicate bullish potential for HYPE, ONDO, RNDR, and KAS.
  • Market participants are watching the US dollar index (DXY) for further weakness, which could be bullish for Bitcoin.

Summary

Bitcoin experienced a significant recovery this week, climbing more than 7% and demonstrating strong buying interest at lower price levels. This resurgence has sparked discussions about the potential for other cryptocurrencies like HYPE, ONDO, RNDR, and KAS to follow suit, as technical analyses suggest bullish trends for these assets. The market's attention is also on the US dollar index (DXY), which is currently trading below 100. A weakening dollar could further bolster Bitcoin's position. If Bitcoin maintains its higher levels, it might enhance overall sentiment in the crypto market, potentially leading to a recovery in select altcoins. However, the bears are not out of the game yet, with potential resistance levels to watch for Bitcoin at $89,000 and $95,000, and for the other mentioned cryptocurrencies at their respective resistance points.

cointelegraph
April 13, 2025
Crypto
Read article

Related news