Bitcoin, Ethereum, and XRP price rise stagnates: Analysts have differing views on the next trend.

The cryptocurrency market continued its downward trend on Tuesday after a lackluster rebound at the beginning of the week. Bitcoin has failed to hold above its historical high, currently oscillating in a narrow range between $115,000 and $119,900 for 11 days. Ethereum, on the other hand, has shown relative strength, making its fourth attempt to break the key psychological level of $4,000, with its perpetual futures open interest ($71 billion) and volume far exceeding that of Bitcoin. Analysts have differing opinions on Bitcoin's future, but generally, they are optimistic that Ethereum will create upward space if it breaks $4,000 with volume. In the altcoin space, institutional interest is beginning to emerge, with XRP (benefiting from expectations of regulatory legislation) and Solana becoming focal points for retail investors. The market is waiting for the Fed's interest rate decision and US Non-farm Payrolls (NFP) data to provide new direction.

The market is under pressure and retreating, Bitcoin is consolidating in a key range The crypto assets market continued its downward trend on Tuesday after a slight rebound over the weekend (which attempted to push Bitcoin back to its historical highs). Bitcoin's previous rise was associated with positive developments in trade agreements between the US and the EU, but the asset still fell 2% on Monday, retreating from a high of $119,784. The world's largest cryptocurrency has fluctuated within a price range of $115,000 to $119,900 for 11 consecutive days, with price volatility easing.

Analysts have differing views on Bitcoin's prospects, with bullish targets pointing to $139,000 In the face of the current market environment characterized by increased uncertainty and narrowed price fluctuations, analysts' opinions have diverged. Steve Gregory, founder of the crypto assets trading platform Vtrader, told Decrypt that despite the uncertainty, he still expects prices to continue to rise: "I believe the next wave of increases will take us to $139,000."

Ethereum leads strongly, with impressive perpetual futures holdings and ETF fund flows At the same time, Ethereum is showing significant strength, approaching the highly watched $4000 mark for the fourth time. Key data highlights the market focus shifting to Ethereum:

• The total open interest of global Perptual Futures exceeds $71 billion, far surpassing Bitcoin's $37 billion.
• Ethereum also leads in global Perptual Futures 24-hour volume. The Chief Operating Officer and co-founder of the decentralized trading platform GAIA, Shashank Sripada, told Decrypt: "Structurally, Ethereum looks healthy." However, he also cautiously pointed out that the token "lacks recent catalysts outside of ETF fund flows." Sripada believes that this time the pattern of Ethereum is "different from the past," and added that if the token can "break through $4000 with volume," he expects it to retest the "$4500-$4800" range. According to SoSoValue data, the US spot Ethereum ETF has recorded net inflows for 16 consecutive days, with a total scale exceeding $5 billion. Analysts interviewed generally expect Ethereum to reach a new all-time high within the next 6 to 12 months. Gregory from Vtrader is also optimistic about Ethereum, emphasizing that most of the token's gains were achieved in the past six weeks. He expects a "rapid and strong" upward trend to drive it to a new all-time high "within the next few weeks."

Interest in alts emerges, XRP regulatory narrative draws attention Crypto Assets analyst Shawn Young pointed out that "the accumulation of funds driven by institutional whales and corporate treasuries' interest in the asset" is driving a shift in institutional perception. While the current cycle is primarily focused on institutional adoption of Bitcoin and Ethereum, Gregory believes that market interest in alts is growing. "Retail investors' interest in Solana and XRP is basically the only significant altcoin gains we are seeing." He expects these two top alts to continue their upward trend but notes that "the narrative for XRP is much stronger." Although the GENIUS Act has brought regulatory clarity for stablecoins, the upcoming CLARITY Act could eliminate the regulatory ambiguity surrounding XRP and potentially open the door for Ripple's broader tokenization strategy.

Key macro events are approaching, and the market is waiting for a breakthrough The upcoming economic data, especially the Fed interest rate decision and the US Non-farm Payrolls (NFP), are key events that the market is focusing on. However, Gregory believes that their impact is "not as significant as the M2 money supply (currently at a historical high)." On the other hand, Young believes that if inflation data weakens or the Fed releases dovish signals, it may trigger a broader shift in risk appetite, pushing Ethereum to break through $4100 and move towards $4500.

Conclusion: The crypto market is stuck in a deadlock before key resistance levels, with Bitcoin's range oscillation reflecting a tug-of-war between bulls and bears, while Ethereum has become the current market focus due to its strong derivatives market holdings and continuous ETF capital inflows. Institutional interest in alts has begun to show, but retail funds remain concentrated on leading projects such as Solana and XRP, with XRP's regulatory progress (the "CLARITY Act") particularly worthy of attention. In the short term, the Fed's monetary policy direction and macroeconomic data will be key catalysts to break the current deadlock and determine whether Bitcoin can break through the $120,000 barrier and whether Ethereum can successfully hold above $4,000, opening up new upside potential.