Bitcoin price rallied to a fresh all-time high of $111,881 earlier on Thursday as the bulls eye $120,000. With the heightened risk-on mood, leading altcoins and meme coins, including Ethereum and Ripple, have recorded significant gains.
Notably, the Bitcoin-led rallying has attracted more buyers to the first meme ICO on the Bitcoin network, Bitcoin Pepe. The project, which is already experiencing a surge in investor interest ahead of its presale end on 31st May, is set to record 100X growth in coming months. Indeed, it has already announced CEX listings.
Ethereum ETF records streak of daily inflows as investor interest surges
Ethereum bulls have succeeded at defending the crucial support zone of $2,500; bolstering the top altcoin to a one-week high as Bitcoin reached a new all-time high. At the time of writing, ETH was trading at $2,683; slightly lower than the three-month high it hit last week.
In addition to the price action, US ETH spot ETFs are moving in tandem with the bullishness in the broader crypto market. Data released by SoSoValue highlights a streak of inflows over the past four sessions.
On Wednesday, BlackRock’s ETHA topped daily net inflows at $24.86 million. At the same time, Fidelity’s FETH recorded daily net outflow of $24.28 million will the rest in the top 9 list had zero flows.
On its daily chart, Ethereum price continues to trade above the 25 and 50-day EMAs. With the heightened risk-on mood, I expect the crypto major to continue holding steady above the crucial support zone of $2,500 as the bulls strive to hit a fresh 3-month high at $2,750.
Interest in Bitcoin Pepe skyrockets as Bitcoin hits new all-time high
On 11th February, Bitcoin Pepe presale started and in the first 90 seconds, it had already sold out stage 1. Indeed, it raised over $1.2 million on its first day as investors rushed to be part of this one-of-a-kind project. Its attractiveness was largely founded on its mission of using a Layer-2 solution to merge the meme culture and Bitcoin’s security. It sort to bring meme coins back home to the most secure network and investors were sold.
Three months later, that momentum has not slowed. Infact, since Bitcoin Pepe announced a CEX listing on 31st May, investors are rushing to amass some BPEP tokens at the current price of $0.0359. With its robust growth potential, this might be the lowest price that the meme crypto will ever get to moving forward.
So intense is the FOMO, that the project has raised over $1 million in just one week. Since the start of the 90-day presale, it has raised over $10 million. As the presale flows skyrocket and Bitcoin hits a new all-time high, crypto enthusiasts have a short window to enter the market and watch as their initial investment grows a hundred-fold. Hurry up and buy Bitcoin Pepe here.
Ripple price defies path set by bearish pattern as market sentiment improves
Over the past one week, Ripple price has largely been trading within descending trend lines as the market processed the court’s rejection of the Ripple Labs – SEC joint agreement request. As Bitcoin’s fresh all-time high boosts the sentiment in the broader market, XRP appears to be attracting more buyers.
A look at its four-hour chart shows the 25 and 50-day EMAs converging at the crucial support zone of $2.3865. With the probable formation of a bullish golden cross pattern, the range between that support zone and $2.4550 is worth watching.
Past that level, more buyers may bolster the altcoin to the next target at $2.5000. On the flip side, a pullback would place the support level at $2.3464 as the bulls keep the crypto off the previously formed descending trendlines.