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Bitcoin price has strengthened its hold above the $72,000 level as the pioneering digital asset traded above $73,000 on Thursday morning. The global crypto markets exhibit mixed sentiment as investors reshuffle their holdings between different coins. While Solana price is up 5% today, Ethereum price is down 0.38%.
The capital seems to flow from ETH to SOL as the former struggles to gain strength above $4,000. Side by side, memecoins are having another run with WIF, PEPE, BONK, and DOGE leading the pack with staggering returns in the past 24 hours. In fact, Dogwifhat (WIF) has soared to a new all-time high after a 41% surge and is now trading at $3.26.
The market capitalization of the cryptocurrencies now stands at $2.9 trillion and is on track to hit $3 trillion amid record inflows. Total altcoin market cap, which can be tracked by Total 3, gained $8.28 billion on Thursday as investors took positions in high-risk assets, anticipating a massive altcoin season.
The astounding run of BTC continues as the digital asset now comfortably sits above the $73,000 mark. While bearish divergences are developing in RSI and other indicators, the market sentiment remains positive. This is evident by a strong demand for the BlackRock ETF shares as it now holds more Bitcoin than Michael Saylor's MicroStrategy.
Although BTC/USD is currently facing resistance from the $73,500 level, the recent breakout above $69,000 has put price targets as high as $100,000 on the table. The fear of missing out is expected to drive the prices higher once the digital asset closes a week above the previous all-time high of $69,000. However, the bearish divergences on the daily RSI and MFI remain a cause of concern among investors.
The memecoin king, DOGE, is having a great day. The biggest memecoin in terms of market capitalization is up 10% for the day after Elon Musk's remarks on accepting DOGE for Tesla payments. The tech billionaire made the remarks while visiting the automaker's plant in Germany.
The biggest gainer among the dogcoins has been Dogwifhat as WIF surged to a new all-time high today. Similar surges were observed in PEPE and BONK. Like WIF, PEPE also hit a record high during Thursday's session as it broke above the $0.00001000 level.
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