The recent rise in Bitcoin and Ethereum, showing convincing upward movement, has brought renewed optimism to the market. Many participants now believe the crypto market, having passed through a prolonged downturn, is on the verge of a new bull cycle. The roughly 44% slump in market quotes from October through February may have been the final phase of the correction in the view of some experts, laying the groundwork for an imminent recovery.

This optimism is supported by several key drivers. First, significant progress in crypto regulation in the United States. The passage and advancement of legislative initiatives such as the CLARITY bill are intended to reduce regulatory uncertainty and attract more traditional investors. Second, there is increasing integration of the crypto industry into the global financial system. A striking example is Kraken obtaining a Fed master account, which opens new horizons for interaction with traditional banks.

Finally, institutional participation is growing. Major financial institutions are increasingly investing in digital assets or offering related products, signalling rising confidence and acceptance of cryptocurrencies as a bona fide asset class. The return of inflows into spot ETFs is direct evidence of this.

The observed trends, together with regulatory progress and greater integration, create a solid foundation for further growth and development in the crypto market.

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $71,300, which would open a direct path to $73,000 and then $74,600. The most distant upside target is the high near $77,400; a break above that would indicate attempts to resume the bull market. On the downside, buyers are expected at $69,300. A move back below that area could quickly push BTC toward $67,100, with a further downside target near $64,900.

Ethereum

A clear close above $2,078 would open the way to $2,169. The most distant upside target is the high near $2,279; a break above that would signal strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,007. A move below that area could quickly send ETH toward $1,915, with a further downside target near $1,845.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.