Bitcoin’s price has surged to nearly $98,000, inching closer to the $100,000 mark as it continues its upward trend following a period of consolidation. Altcoins like Ether, Chainlink, and Uniswap are also experiencing gains, with some surging by 5% in just the past hour. However, experts are warning of a potential pullback once Bitcoin hits the $100,000 milestone, as investors may start to take profits after the recent rally.
In addition to Bitcoin’s rise, crypto-focused U.S. equities are also on the upswing, with companies like MicroStrategy, MARA Holdings, and Semler Scientific seeing gains in pre-market trading. Options trading on Defiance’s 2X long MicroStrategy ETF indicates extreme bullish sentiment, pointing to a positive outlook on the future performance of these companies.
Meanwhile, the creator of the Chillguy meme has issued legal threats against any profit-related assets or applications using his character without permission. The Solana-based meme token CHILLGUY, which was inspired by a copyrighted character, saw a surge in price reaching a market value close to $500 million before Banks’ legal actions caused a drop in value.
On another note, Google searches for “memecoins” have been trending, indicating a growing interest in these types of cryptocurrencies. A score of 100 on Google Trends suggests peak popularity for this search term, pointing to a potential surge in retail investor interest in memecoins.
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Overall, the cryptocurrency market is seeing significant movement with Bitcoin’s price nearing $100,000 and altcoins following suit. As investors navigate these price fluctuations, it’s essential to stay informed about the latest trends and developments in the crypto space.