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Bitcoin is seeing notable upside pressure, with the top coin trading above $109,000 to ignite a broad rally across the cryptocurrency market.
Major altcoins like Ethereum (ETH), XRP and Solana (SOL) are all recording gains, while Celestia (TIA), and Bonk (BONK) are among the top performers in the top 100 coins by market capitalization.
Bitcoin touches $110k
Bitcoin (BTC) reclaimed the $109,000 mark on Wednesday, driven by a combination of macroeconomic factors and geopolitical developments.
It saw Bitcoin’s price surge to a high of $110,200, breaking the psychological level amid broader risk market gains.
Stocks also moved higher as the US-Vietnam agreement, coupled with a 4.5% increase in the global M2 money supply, fueled optimism among investors.
Analysts expect Bitcoin to target a new all-time high, amid an explosion in BTC treasury companies. However, profit taking could result in short-term ranged trading.
Ethereum eyes break to $3,000
Ethereum (ETH) is showing signs of a breakout, gaining 6% as bulls look to flip $2,600 into a key support level.
The second-largest cryptocurrency by market cap is riding the wave of renewed investor interest and potential ETF inflows.
With a 24-hour trading volume of $29.3 billion, Ethereum’s price action suggests it could test the $3,000 resistance soon.
CryptoQuant analyst Carmelo Aleman noted in a post on X:
“While ETH’s price hasn’t yet exploded, institutional investors continue accumulating and locking tokens at record levels, indicating that the market may be gearing up for a significant upward move.”
Ripple XRP targets key technical barrier
Ripple’s XRP has been trading sideways, holding steady at around $2. Despite a modest 5% gain, XRP is above $2.29 and poised to break through the $2.3 resistance zone.
Ripple’s recent announcements, including key regulatory applications, stablecoin adoption and the integration of the XRPL EVM Sidechain, could yet catalyze a decisive breakout.
True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market. Earlier in the week via
Solana price rebounds above $150
Solana (SOL) has bounced back above $150, trading at $156 after a 4% increase on Thursday morning.
The rally coincides with significant adoption milestones, including the launch of the first Solana staking ETF in the US, which has bolstered investor confidence. SOL’s staking ETF saw significant inflows on its debut.
Read more: SOL rebounds on staking ETF launch, targets $170 next
Celestia among top gainers
Celestia (TIA) has emerged as a standout performer in the past 24 hours, surging over 15% to $1.65.
The modular blockchain’s technical outlook is bullish, with a Relative Strength Index (RSI) and rising open interest signaling potential bullish continuation.
Celestia’s ability to separate data availability from transaction execution has attracted attention, positioning it as a key player.
Other top gaining altcoins include Injective, Sui and NEAR Protocol.
Bonk price jumps 20%
Bonk (BONK), the Solana-based memecoin, soared 20% to approach $0.0000172, extending its breakout from a falling wedge pattern.
With a market cap of $1.34 billion and a 24-hour trading volume of $584 million (up 360% in this period), BONK is riding fresh memecoin momentum.
The token could climb to $0.000022 if the bullish momentum persists.
Pepe, Fartcoin and dogwifhat are also seeing significant moves in the past 24 hours.
Overall crypto market outlook
The global crypto market cap stands at $3.4 trillion, up 2.9% in the last 24 hours.
Meanwhile, the 24-hour trading volume reached $133 billion, a 30% increase.
As Bitcoin rose and top alts followed, liquidations have totaled $332 million, reflecting a 31% surge amid heightened volatility.
Elsewhere, data shows the Crypto Fear & Greed Index is at 54, indicating market optimism remains despite caution.
The post Crypto price wrap: Bitcoin hits $110k as ETH, XRP, SOL, TIA and BONK gain appeared first on Invezz
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