Bitcoin (BTC) rose more than 5% in 24 hours on Oct. 29 as bullish pressure during the US trading session pushed the flagship cryptocurrency to highs of $73,000. Sui, Popcat and Poodlana tokens also saw gains.
Bitcoin price hits $73k
With sentiment extremely positive amid factors such as the upcoming US election and interest rate cuts, BTC price looked set for a stab at its all-time high reached in March. The benchmark cryptocurrency’s value hit $73,250 on US-based exchange Coinbase.
Notably, according to CoinGecko data, Bitcoin hit the all-time high of $73,737.94 on March 14, 2024. Looking at current prices of $73,250 for BTC, this ATH is less than 1% away. Bulls could be at a new all-time high within the next few hours.
As Bitcoin price jumped, its market dominance jumped to 60%, illustrating the rising greed for the top coin.
Meanwhile, 24-hour crypto liquidations jumped 100% to over $264 million. Per Coinglass data, short liquidations stood at over $230 million in the 24 hours, suggesting bearish positions that expected a retreat after BTC broke above $70k suffered massive losses.
SUI, POPCAT gain as BTC soars
While BTC dominance spikes, crypto analyst Michael van de Poppe is bullish on the tide flipping to altcoins. He noted on X before Bitcoin price jumped to highs above $73k.
“It’s almost time! Bitcoin dominance approaching resistance zone. I repeat again: if a reversal happens in the coming 2 weeks, a bearish divergence pops up and the markets are going to rally for altcoins.”
Already, some altcoins are skyrocketing. On Oct. 29, Sui (SUI) lead the top 100 largest coins by market in terms of 24-hour gains. The altcoin was up 23% as its price jumped above $2.04.
Meanwhile, Popcat led top meme coins higher with 19% upside to hit $1.78.
Notable meme performers were Mog Coin, dogwifhat and Dogecoin – all posting double digit gains. Gains for SUI, DOGE and others came as BTC surpassed $72k.
According to Miles Deutscher, the meme space is the biggest performer in the crypto market year-to-date, with sector market cap rising 219%.
Poodlana (POODL) targets crypto rally
Sentiment is bullish and investors feel that the meme super cycle is still on despite recent gains for dog-themed, cat-themed and PolitiFi tokens. This has investors keen on meme tokens that have posted minor gains but are likely to explode in coming months.
Poodlana (POODL), the Solana meme coin that has gained massive traction since its launch on exchanges in August, is one of those to attract attention.
POODL is the meme coin that embodies Asia’s love for the poodle dog and the rise of luxury fashion as a social trend. Bringing these two on-chain has helped elevate the project to one of those analysts are highly bullish on as meme coins rally.
Having listed on BingX and MEXC, Poodlana is eyeing the top tier list. If market conditions align and a bull market ensues, one SOL token to watch will be POODL.
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