Dogecoin Surges 10%, Bitcoin Nears $104K Amid Renewed ‘Risk-on’ Sentiment
The cryptocurrency market is experiencing a significant upswing, with Dogecoin ($DOGE ) leading the charge by surging over 10% to trade around $0.21. This rally comes as Bitcoin ($BTC ) approaches the $104,000 mark, reflecting a 3.5% increase over the past 24 hours.
(FXStreet)
Analysts attribute this bullish momentum to a renewed 'risk-on' sentiment among investors, spurred by positive macroeconomic developments. Notably, President Trump's announcement of a trade deal with the UK and optimistic outlook on U.S.-China trade talks have bolstered market confidence.
(CoinDesk)
Ethereum ($ETH ) also contributed to the market's positive trajectory, climbing to $2,400 following the successful implementation of its Pectra upgrade. This upgrade has enhanced Ethereum's scalability and efficiency, further invigorating investor interest.
(The Crypto Times)
The surge in Dogecoin's price has led to significant market activity, including approximately $13 million in liquidations, predominantly from short positions. This indicates a strong buying pressure and a shift in market dynamics favoring bullish positions.
(FXStreet)
Overall, the cryptocurrency market's recent performance underscores a growing investor appetite for risk assets, driven by favorable economic indicators and technological advancements within the crypto space.
