Crypto wrap: BTC, ETH at key levels as MemeCore, Four and SKY lead top gainers
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The cryptocurrency market continues to battle bearish pressure, with the global market capitalization at $3.8 trillion, and volume at $123 billion.
In the top segment of the market, Bitcoin and Ethereum are poised at key levels, while across the altcoins sector, top 24-hour performers include MemeCore, Four and Sky.
According to CoinMarketCap, the Fear & Greed Index stands at 44, signaling neutral sentiment even as the macro environment sees Wall Street and the broader risk assets market downbeat.
BTC and ETH have seen over $1 billion in liquidations.
Bitcoin (BTC) price remains near $110k
Bitcoin price rebounded to above $112,000 in early trading but has pared the gains and is closer to $110,000. This comes amid a volatile week where bulls continue to struggle since the downside flip from the record high of $124k in August.
On-chain data however, indicates long-term holders are active, and institutional flows highlight potential capital rotation into BTC. A look at the macroeconomic picture is a key factor for bulls this month.
“The September story isn’t the cut, it’s Fed independence. Markets are already pricing higher term premium, a weaker dollar, and support for gold and $BTC,” Singapore-based QCP Group analysts recently noted.
Ethereum (ETH) sees slight uptick above $4,500
Ethereum has climbed 1.3% to above $4,500, outperforming Bitcoin as ETH continues to attract huge spot ETF inflows and treasury asset buys.
Analysts say ETH price could reclaim the upper hand and surge to a new all-time high above $5,000.
Companies such as BitMine and SharpLink are leading the bullish bet on Ethereum’s long-term performance, and retail flows could also rise amid an anticipated crypto bounce in Q4.
Whales have also been aggressive.
Meanwhile, analysts see ETH price going higher.
“Ethereum has crept back up to nearly $4.5K, with accumulation coming from the key ‘millionaire’ and ‘small billionaire’ whales and sharks that hold between 1K and 100K $ETH. In exactly 5 months, they have added 14.0% more coins,” analysts at Santiment posted on X.
MemeCore,FOUR and SKY outpace peers
As Bitcoin and Ethereum look to hold onto gains or bounce off key support levels, a number of altcoins stand out in the past 24 hours.
In the top 100 by market cap category, MemeCore leads the gainers with a 22% surge. The memecoin’s rally not only pushed it above the $1 psychological level, but also sent it to a new all-time high of $1.25.
Meanwhile, Four (FORM) and Sky (SKY) are also top gainers, rising 6% to near $3.80 and 5% to above $0.074, respectively. Other top performers include Pump.fun, Story and Cronos, the latter recently exploding amid major partnership news.
On the flipside, top losers on the day include World Liberty Financial, Fartcoin and Ondo.
WLFI, FARTCOIN and ONDO tokens were down 20%, 5% and 4% respectively.
The post Crypto wrap: BTC, ETH at key levels as MemeCore, Four and SKY lead top gainers appeared first on Invezz
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