The cryptocurrency market seems to be slowly recovering from its recent correction. Bitcoin (BTC) is inching closer to the $97,000 mark. The global market cap has also reclaimed the $3.56 trillion level.
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Why Is The Cryptocurrency Market Recovering?
Source: Watcher Guru
The crypto market faced a correction last month after inflation in the US increased to 2.7%. The Federal Reserve took a hawkish stance with its monetary policy. The Fed announced only two interest rate cuts in 2025 instead of three. The move led to market participants becoming weary of risky assets like cryptocurrencies.
The latest market recovery could be due to Donald Trump’s inauguration on Jan. 20, 2025. Trump’s victory in the US Presidential election led to a significant market rally. Trump’s pro-business and pro-cryptocurrency stance has led to a substantial increase in investor confidence.
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Top 3 Cryptocurrencies To Watch This Weekend
1. Bitcoin (BTC)
Source: Watcher Guru
Since Bitcoin leads the market, it will probably move before other assets. As Trump’s inauguration draws nearer, we might see another market-wide spike. Over the following few days, Bitcoin might regain the $100,000 mark.
Over the past few months, Bitcoin has experienced several peaks. Many believe that the original cryptocurrency will soon reach a new all-time high.
2. Ripple (XRP)
Source: Trackinsight
Ripple’s XRP token has displayed incredible growth over the last few months. The cryptocurrency breached the $2 mark for the first time in nearly seven years.
XRP is expected to continue its bullish trajectory this year. We may see the asset breach the $3 mark very soon.
3. Solana (SOL)
Source: Watcher Guru
SOL is another cryptocurrency that has shown stellar growth over the last year. SOL’s performance is especially commendable, given that the asset fell to below $10 after the collapse of FTX in 2022.
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SOL hit a new all-time high in November 2024 and may rise to a new peak very soon.
