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Crypto Price Today: The cryptocurrency market is witnessing strong bullish momentum today, led by significant price movements in Bitcoin (BTC) and Ethereum (ETH). Bitcoin, currently trading at $64,361, has recorded a 2.57% gain over the past 24 hours and continues to show strength with whale investors strategically adding to their holdings. Ethereum is also on a rally, climbing to $2,531.80, supported by increased trading volumes and investor confidence.
Major altcoins like Polkadot (DOT), Solana (SOL), and Shiba Inu (SHIB) are following the upward trend, reflecting positive market sentiment. Whale activities and strategic accumulation highlight growing investor interest in crypto assets, especially as Bitcoin approaches key resistance levels.
Bitcoin (BTC) continues to showcase strong momentum, trading at $64,361 with a 1-day gain of 2.57% and a 7-day rise of 1.21%. The bullish sentiment has been reinforced by whale activities, strategic trading, and improved market liquidity.
A whale investor recently bought 200 BTC, worth $12.56M, following a successful profit of $181M in earlier Bitcoin trades. This strategic move signals continued market confidence, as institutional investors align their portfolios with Bitcoin's upward momentum.
In the 30-minute BTC/USDT chart:
Bollinger Bands suggest volatility expansion, with prices breaking through the upper band at $64,500.
A recent high of $63,417.56 was followed by minor consolidation around $62,911 before the breakout resumed.
Volume surged alongside the price, confirming the bullish breakout.
A pullback to the support level at $62,887 shows market strength, with buyers stepping in during dips. Bitcoin remains above pivot support at $61,893, and the next target could be $65,000, provided the bullish momentum sustains.
On the 1-day chart, Bitcoin is testing the resistance zone at $64,137. A breakout here could push BTC toward $68,000. If it fails to maintain this level, a fallback to $58,952 is possible.
Ethereum (ETH) has also demonstrated upward movement, trading at $2,531.80, with a 2.90% gain in 24 hours and 1.44% over the week. The rally aligns with the broader market trends, indicating investor confidence across major cryptocurrencies.
The Bollinger Bands show an increase in volatility, with Ethereum breaking past the upper band at $2,508.
A recent high of $2,486.75 indicates strong buying interest.
Support sits around $2,466.27, with additional support forming at $2,423.61.
ETH's breakout from consolidation suggests buyers are back, pushing for the next resistance at $2,550. If the momentum continues, Ethereum could attempt to reclaim the $2,600 mark soon.
A prominent whale has been actively trading Bitcoin:
Purchased 6,000 BTC between August 24 and September 2, 2023, at an average price of $26,429.
Bought another 2,000 BTC at $44,381 just before the Bitcoin ETF launch on January 10.
Sold 1,500 BTC at $68,398 during March 2024, locking in $102.6M in profits.
This whale’s latest purchase of 200 BTC at $64,244 indicates confidence in future price increases, possibly driven by ETF-related developments or macroeconomic trends.
Several other altcoins are following Bitcoin and Ethereum's bullish trend:
Trading at $4.27
24h gain: +2.50%
7d gain: +0.12%
Trading at $152.67
24h gain: +4.98%
7d gain: +1.64%
Trading at $0.54
24h gain: +0.45%
7d decline: -0.44%
Trading at $0.00001805
24h gain: +2.56%
7d loss: -2.54%
The top gainers reflect strong performance from niche crypto projects:
1. Brett (BRETT): +21.82%
2. Worldcoin (WLD): +15.90%
3. Ethena (ENA): +14.49%
4.Celestia (TIA): +12.72%
5. The Graph (GRT): +7.18%
The biggest loser today is Popcat (POPCAT) with a 5.89% decline, followed by Helium (HNT) and Uniswap (UNI), showing minor corrections.
The whale activity and the bullish price actions across major cryptocurrencies indicate a positive sentiment across the market. Bitcoin’s potential breakout above $64,500 will be a key indicator of further rally potential, possibly leading the market toward new highs.
Meanwhile, Ethereum's steady climb suggests strong momentum, especially as institutional investors show renewed interest in ETH. Altcoins like Solana and Polkadot are benefiting from this momentum, recording healthy gains.
The crypto market is riding a wave of optimism, with Bitcoin testing critical resistance levels and whales continuing to accumulate. Ethereum's upward trend adds to the positive sentiment, setting the stage for further gains. Market participants should keep an eye on key resistance and support levels, especially in Bitcoin and Ethereum, as they could dictate the market's direction in the coming days.
