Bitcoin Soars Above $71k As Binance Coin, Toncoin & FLOKI Make Record Highs

Bitcoin Soars Above $71k As Binance Coin, Toncoin & FLOKI Make Record Highs

Crypto Prices: Bitcoin price is up for the 3rd consecutive day as investors pour in their capital in the world’s most valuable asset. Concurrently, altcoins are also performing very well, so much so that industry stalwarts like Binance Coin (BNB), Toncoin (TON) and FLOKI have soared to their new all-time highs.

Consequently, analysts are expecting the BTC price to hit a new all-time high very soon. However, the $71,000 resistance is yet to be reclaimed and bulls need to push the price beyond this critical level to have another shot at breaching the $75,000 level.

Bitcoin ETFs See $887M Inflows

The bullish sentiment in the digital asset markets is fuelled by the 2nd highest daily inflows in the spot Bitcoin ETFs which were launched in January. Out of the $887 million daily inflows on June 4, Fidelity Wise Origin Bitcoin Fund(FBTC) had the biggest inflow of $378.7 million. This was followed by BlackRock’s iShares Bitcoin Trust (IBIT) and ARK 21Shares Bitcoin ETF (ARKB) with daily inflows of $274.4 billion and $138.7 billion, respectively.

Binance Coins Surges Past $710

In a remarkable feat, BNB, which is a native asset of the Binance ecosystem, soared to record levels on Tuesday. This was a major surprise for many analysts as the Binance founder CZ started his sentence just a few days ago. The strong surge in the Binance Coin indicates the investors’ faith in the world’s biggest crypto exchange and its operations.

The technical analysis further puts an extended rally toward the $737 level which is a 1.618 Fib retracement level as visible in the chart below.

Toncoin Signals Double Top Formation

Another altcoin that refreshed its all-time high on Tuesday was TON. The native asset of the Telegram-backed blockchain network put a new high of $7.87 but failed to close above its April peak of $7.70. Bulls need a daily candle closure above $7.43 for a sustained bullish Toncoin price prediction.

FLOKI Pumps On $12M DWF Investment

In its 3rd straight green day, FLOKI price soared 7.71% on June 5. This pushed the dog-themed memecoin to $0.000349, which was the highest level in its price history. The bullish price action seems to be influenced by the recent $12 investment from DWF labs. The funds will be used to buy FLOKI tokens from the project’s treasury.

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