Cryptocurrency Market Faces Short-Term Oscillations

Key Points

1. Bitcoin surpassed $123,000 in U.S. markets but later fell below $120,000, recording a 0.6% increase over 24 hours.

2. Other leading cryptocurrencies like Ethereum, Dogecoin, Cardano, and Stellar's XLM depreciated by 2-3%.

3. Post-market closing, altcoins such as XRP, SUI, and Uniswap's UNI token showed modest recovery with increases of 2.5%, 10%, and 6%, respectively.

4. Shares of cryptocurrency-linked companies like MicroStrategy (MSTR), Galaxy (GLXY), and Coinbase (COIN) closed up by 1.5% to 4%.

5. Analysts noted that the ongoing rally is not near previous significant peaks and highlighted the absence of a distribution phase in Bitcoin's market.