Bitcoin is currently hovering between $29,000 and $30,000, with investors and bulls taking a long-term perspective amidst uncertain times caused by new regulations affecting fiat on-ramps and exchanges.
However, the weakening of the US Dollar and the upcoming interest rate hike call by the Federal Reserve in May could potentially push the cryptocurrency to $31,000. Additionally, Bitcoin's next halving is only a year away.
Ethereum has also experienced significant gains this year, holding a massive 72% increase in year-to-date value. The Shanghai "Shapella" Upgrade has been crucial for layer two protocols, with Optimism and Arbitrum still holding major pumps from Shapella.
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