Market Overview:
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Altcoin Performance: While Bitcoin remains relatively stable, several altcoins have posted significant gains. Ethereum (ETH) rose by 4.8%, XRP gained 1.7%, and Solana increased by 2.9%.
Market Capitalization: The overall cryptocurrency market capitalization surged by 2.7% to $3.38 trillion, reaching a peak of $3.40 trillion the previous evening—its highest since early February.
Institutional Activity:
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ETF Flows: U.S. spot Bitcoin ETFs recorded net outflows of $96 million after reaching peak cumulative inflows.
Whale Accumulation: Large holders have accumulated approximately 83,105 BTC during the recent price surge, indicating strong institutional interest.
Technical Indicators:
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Support Levels: Bitcoin faces resistance at $105,000, but a break above could lead to $110,000, supported by growing market optimism.
Market Sentiment: The Crypto Fear and Greed Index touched 70, indicating growing optimism among traders after favorable U.S. Consumer Price Index (CPI) data.
Overall, Bitcoin's market is experiencing a mix of bullish institutional activity and cautious investor sentiment ahead of key economic data releases.
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