Is Bitcoin at $104K the Start of a Bull Run? Crypto Market Trends Today
Crypto markets remain turbulent as Bitcoin crosses $104K. Ethereum gains 2%, while XRP, DOGE, and SHIB slide. Market observers speculate on future trends.
By Tylt Editorial Team
Bitcoin trades at $104,088, gaining 1% in the last 24 hours.
Ethereum rises 2% to $3,299, while meme coins like DOGE and SHIB drop by 1%-2%.
The global crypto market cap falls slightly by 0.11%, reaching $3.54 trillion.
The crypto market remains volatile, with Bitcoin (BTC) crossing the $104,000 mark amid mixed performances by altcoins. BTC showed a 1% gain over the past 24 hours, trading at $104,088, with a low of $101,257.80 and a high of $106,820.33. While the market’s sentiment remains optimistic, experts warn of heightened greed and caution traders about possible future turbulence.
Ethereum (ETH) has also seen a positive trend, rising by 2% to $3,299. Despite this, the cryptocurrency faces resistance at the $3,500 level due to ongoing selloffs by the Ethereum Foundation. Market participants are closely monitoring short-term volatility, with investor sentiment remaining uncertain.
On the other hand, altcoins such as XRP and meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) recorded losses. XRP slipped by 1% to $3.12, with sideways trading dominating its charts. Meanwhile, DOGE and SHIB lost 1% and 2%, respectively, reflecting the broader uncertainty in the market.
Solana (SOL) displayed mixed movements, with its price fluctuating between $242.50 and $257.43 before settling at $252.63, a 1.5% intraday gain. Analysts anticipate a potential rally to $300, contingent on favorable developments like a Solana ETF approval.
Notably, the global crypto market cap saw a minor dip of 0.11%, standing at $3.54 trillion. However, trading volume spiked by 40%, reaching $202.98 billion in the past day, indicating heightened activity despite the market’s erratic behavior.
Among the top gainers, Mantle (MNT) surged 10%, trading at $1.17, followed by Ethereum Classic (ETC), which rose 3% to $27.14. KuCoin Token (KCS) also climbed 6%, reaching $12.16. Conversely, notable losers included ai16z (AI16Z) and Fartcoin, both dropping 14%, and THORChain (RUNE), which fell 11%.
Despite the mixed performances, the market sentiment retains a degree of optimism. Prominent crypto advocate Michael Saylor declared, “The Crypto Renaissance has officially begun,” fueling bullish expectations. His remarks come in the wake of supportive moves from influential figures, including Donald Trump’s recent efforts to create a more crypto-friendly regulatory environment.
