Ethereum and Dogecoin Outpace Bitcoin as Crypto Markets Rally—Again

Move over, Bitcoin—altcoins are stealing the spotlight. Ethereum surges 12% in 24 hours as institutional money floods into DeFi protocols, while Dogecoin rides another Elon tweet to a 30% pump. Meme magic lives, apparently.

Meanwhile, TradFi analysts scramble to justify why they called this a ’dead market’ three months ago. Guess those risk-on appetites are back—right along with the leverage liquidations.

$2,622 and Dogecoin$0.2364 (DOGE). Both ETH and DOGE have expanded their value increase over the past week to 9%, showing a strengthening positive atmosphere. Meanwhile, the overall market value has risen by 1.7%. Bitcoin (BTC)$103,554 continues to trade around $103,700 in Asian markets.

ContentsStrong Rises in ethereum and DogecoinBitcoin’s Market Identity and DirectionlessnessRecent Developments in Investment Funds and Altcoins

Strong Rises in Ethereum and Dogecoin

Ethereum’s price exceeded $2,600, while Dogecoin traded around 24 cents. Among other significant cryptocurrencies, XRP, BNB, Cardano$0.814119’s ADA, and Solana$180’s SOL gained between 3% and 5%. This scenario has created Optimism throughout the market. Various analysts suggest that due to rising prices, short-term profit-taking might emerge.

Macroeconomic developments continue to impact the market. The recent strengthening of the US dollar and the resurfacing of trade tensions have made investors cautious. With Bitcoin nearing peak prices recently, some investors may be inclined to realize their profits in the short term. FxPro chief market analyst Alex Kuptsikevich remarked that the tariff news-induced stronger dollar naturally put pressure on crypto.

Alex Kuptsikevich: “This situation, with bitcoin near its peak, encourages short-term profit-taking following rapid value gains in the past month.”

Bitcoin’s Market Identity and Directionlessness

Uncertainty about Bitcoin’s direction persists in the market. Some investors are caught between seeing Bitcoin as “digital gold” and a risky asset. Singapore-based QCP Capital highlights this dilemma in its market assessments.

QCP Capital: “Bitcoin is stuck in a tug-of-war between its ‘digital gold’ identity and being a risky investment vehicle. This makes it difficult to set a clear direction.”

While the economic environment transitions from protectionism to a hopeful period, fluctuations in Bitcoin pricing can be observed. Nevertheless, sentiment levels remain high. The popular Fear and Greed Index in the crypto market has stayed above 70 for four days, indicating positive market sentiment among investors.

Recent Developments in Investment Funds and Altcoins

Interest in institutional investment funds persists. According to recent data from CoinShares, a total institutional inflow of $882 million was recorded last week. This marks the third consecutive week of strong fund inflows. BTC led with a $867 million share of these inflows. Despite robust price increases, ETH saw approximately $1.8 million in fund inflow.

In the altcoin market, different movements drew attention. For example, solana (SOL) experienced a $3.4 million fund outflow. Conversely, some investors opted for $200 call options valid until the end of June, indicating long-term optimism among investors.

The dynamics of BTC’s price are intriguing to watch in the coming days. Questions arise: “Will Bitcoin experience momentum NEAR its $105k price or a new failure?”

Alex Kuptsikevich: “While positive sentiment remains, attention should be paid to the price action around $105k. Developments here will guide the coming days.”

In the crypto market, while the continuation of a positive atmosphere is possible, short-term selling pressures may also arise. Therefore, investors are encouraged to closely monitor market conditions. Macroeconomic data and global developments continue to play a decisive role in market sentiment.

The recent activity in the cryptocurrency market influences investors’ risk perceptions and expectations. Quick rises, especially in Ethereum and Dogecoin, have increased interest in the sector. However, macroeconomic conditions and developments in trade can still lead to volatile crypto prices. Investors can shape their strategies by following short-term price movements and indicators like institutional investment interest and market sentiment. In an environment of uncertainty, both upward trends and short-term corrections are possible, making cautious and multifaceted analyses crucial.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.