Major cryptocurrencies are rising alongside gains in US stocks as oil prices shed the war premium built up in recent weeks. But broader market share remains elusive and limited to a few coins.
bitcoin and ether (ETH) have risen 5% and 9%, respectively, in the last 24 hours, as digital asset treasuries such as Strategy (MSTR) and Bitmine (BMNR) maintain strong demand and traders seek bullish exposure through futures. More importantly, perpetual funding rates are positive but remain below 10% for both assets, indicating healthy demand for bullish bets with no signs of overheating – a Goldilocks scenario.
Solana’s SOL has bounced back to the mid-$80s, but it has been here several times in recent weeks and is yet to offer directional clarity. A similar conclusion can be reached for the payments-focused token XRP.
Analysts are optimistic but want BTC to establish a foothold above $74,000-75,000.
“A victory for the bulls in this battle will pave an easier path to the $87,000-$90,000 range, where the 200-day moving average and November-January support meet. Optimism in global markets increases the chances of reaching these heights in the coming days, but before surpassing $90,000, Bitcoin may require a long period of consolidation and cooling,” said Alex Kuptsikevich, chief market analyst. from FxPro, in an email.
The Marex Group’s digital asset services wing highlighted that bitcoin must remain above $74,000 without the market overheating with excessive leverage.
“If Bitcoin can consolidate above 73,000 to 74,000 without funding overheating, this may extend. If it returns quickly, it confirms that the move was primarily a headline and contraction, not a true demand shift,” said cryptocurrency trading analysts at Marex.
Some altcoins, such as ZEC, HYPE, and AAVE, and memecoins, such as PEPE, continue to rally. HYPE’s parent platform, Hyperliquid, is increasingly capturing share in the perpetual futures market on centralized exchanges (CEX). Data shared by Hyperliquid News shows that the decentralized platform’s open interest share relative to CEX rose to a new all-time high of 6.9%.
However, the broader market has yet to fully participate in the bitcoin rally. This is evident from traditional metrics that measure market breadth based on price performance filters.
For example, BTC price is now convincingly above its 50-day moving average, a bullish sign, according to analysts. However, only 51 of the top 100 coins (including BTC) show the same behavior, according to data source TradingView.
In traditional markets, the dollar index continued to fall, hitting five-week lows as war fears eased. The sustained decline supports the bullish case for risk assets. Stay alert!
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today. For a complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
What is trend?
Today’s sign
The chart shows daily bitcoin price movements in candlestick format, overlaid with the Ichimoku Cloud indicator.
Prices are up more than 5% in 24 hours, surpassing the trend line drawn from the October high. This descending line represented the bear market characterized by prices forming lower and lower highs. Therefore, the breakout points to a significant revival in demand and more gains ahead.
The case for a rally to $80,000 or higher would be further strengthened if prices rose above the Ichimoku Cloud, a technical indicator developed in the late 1930s by Japanese journalist Goichi Hosoda and popularized in the 1960s. The cloud helps visualize the direction and momentum of the trend, and price trading above it usually indicates a stronger bullish structure.
