The US stock markets opened positively, leading to significant gains for cryptocurrency-focused companies. Shares of Coinbase and Microstrategy began the day with a rise of 6%.
Dogecoin (DOGE)
If the BTC price is rising, a stronger influx of cash is expected for altcoins as well. After two quarters of pressure, cryptocurrencies that experienced considerable sell-offs are now continuing with gains exceeding 5%. Analyst ali_charts noted that the RSI has broken its declining trendline and is targeting a key resistance level at $0.11. Dogecoin has the potential to lead altcoins in price surges based on two significant signals.
Bitcoin (BTC)
An analyst known as Moustache shared a reverse chart, emphasizing the high probability of a bullish trend from a technical perspective. The target here is $108,000 and beyond. Many experts suggest that six-figure prices for this leading cryptocurrency are easily achievable before the year ends. Additionally, analyst Crypto Fella noted the ongoing rise characterized by higher lows. At the time of writing, BTC was at $63,418.
Overall Market Trends
The Bitcoin price continues to make new peaks, supported by the stock market's momentum, which has the potential to sustain this strength until the daily close. Some experts believe that the worst might be over.
Cryptocurrency markets are showing significant growth, bringing hope to many investors. Along with positive news from the stock markets, this could lead to a continuation of the upward trend.
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