Crypto Market on Edge: Overheating, Key Triggers Ahead

The cryptocurrency market is experiencing high levels of liquidity and overheating, according to a recent analysis. Bitcoin has been approaching its upper bound but has yet to break through its May high of $82,828.7.

Ethereum, on the other hand, set a new price wall at $2,669.00, with several unfilled Fibonacci gaps below its current price. The Dollar Index (DXY) has held above 100.000 and formed an upward structure.

The upcoming week will be driven by key triggers such as PMI, jobless claims, and new home sales data. Analysts are expecting a possible correction or continuation of the current trend in Bitcoin and Ethereum.