Bitcoin, Ethereum, Dogecoin Rally Amid FOMO: Analyst Predicts $100K On Table For King Crypto, Says ‘Watch It Like A Hawk’

Major cryptocurrencies soared Sunday night as overall crypto market optimism and FOMO continued to attract retail investors.

cryptocurrency Gain +/- Prices (recorded at 10:30 p.m. ET)
Bitcoin BTC/USD +2.34% $63,411
Ethereum ETH/USD +1.17% $3,471
dogecoin doge/usd +10.98% $0.15

what happened: Bitcoin price has risen to over $62,000. Notably, February’s rally marked the longest monthly blue candle in the asset’s history.

Bitcoin halving is scheduled for April this year, which will slow down new BTC mining. Historically, this event has been accompanied by an overall market rally.

Top Gainer (24 hours)

cryptocurrency Gain +/- Prices (recorded at 10:30 p.m. ET)
pepe Pepe/USD +50.69 $0.0000062
phantom FTM/USD +29.04% $0.6957
Bonk Bonk/USD +26.81% $0.00003107

The global cryptocurrency market capitalization is currently $2.31 trillion, an increase of 1.36% in the past 24 hours.

U.S. stock futures showed minimal movement Sunday night after the Nasdaq Composite hit a new all-time high on Friday, surpassing its 2021 record.

Futures tracking the S&P 500 fell slightly, and Nasdaq 100 futures also fell slightly. Additionally, futures prices related to the Dow Jones Industrial Average fell 0.1%, or 47 points.

Investors will be watching the Fed chair closely this week Jerome Powell’s It will submit an update on monetary policy to the House of Commons on Wednesday and to the Senate on Thursday for an indication of the future direction of interest rates. On Wednesday, ADP Employment SurveyJob data for 2018 and January will provide further insight into the labor market.

look more: best cryptocurrency scanner

analyst notes: Virtual currency analyst michael van de poppe He said Bitcoin has soared from $16,000 to $60,000.

“That means altcoins are on the brink of a massive rally. Far beyond their all-time highs.”

virtual currency analyst james van straten According to reports, approximately $2 billion in Bitcoin was withdrawn on March 1st alone.

“I don’t think I’ve ever seen anything like this,” he said. “Overall on Friday, just over $2.3 billion worth of bitcoins left exchanges, making it one of the largest outflows in more than five years.”

crypto analyst Gareth Soloway identified This is a factor that could propel Bitcoin towards its predicted milestone.

In an interview with david lin Soloway suggested on March 2 that a surge in liquidity could favor Bitcoin’s performance.

Soloway said investors should scrutinize liquidity “like a hawk.” “If we see an increase in liquidity in the system, that’s definitely something to consider.” [Bitcoin to $100,000 in 2024]. Any increase in liquidity with markets at all-time highs would keep inflation high, making real action by the Fed impossible. <…> What matters is the liquidity within the system. “Watch it like a hawk,” he said.

On-chain analyst Ali Martinez It was announced that approximately $48.54 billion was injected into the cryptocurrency market, marking the largest capital inflow since October 2021.

Photo by FellowNeko on Shutterstock

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