Major Cryptocurrencies Experience Moderate Rally, Leaving Smaller Coins Behind

The cryptocurrency market is witnessing a surge in major digital assets, including bitcoin and ether, which are rising in tandem with U.S. equities as oil prices decline. However, this growth is limited to a select few coins, with broader market participation remaining elusive. Over the past 24 hours, bitcoin has seen a 5% increase, while ether has experienced a 9% surge, driven by strong demand from digital asset treasury firms and traders seeking bullish exposure through futures. Perpetual funding rates are positive but remain below 10% for both assets, indicating a healthy demand for bullish bets without signs of overheating. Analysts remain optimistic but are waiting for bitcoin to establish a foothold above $74,000-$75,000 to confirm the bull trend. A breakout above this level could pave the way for further gains, potentially reaching the $87,000-$90,000 range. However, some analysts caution that bitcoin may require a period of consolidation before rising above $90,000. Select altcoins and memecoins continue to rally, with some decentralized platforms gaining market share in the perpetual futures market. Despite this, the broader market has yet to fully participate in the bitcoin rally, with only 51 of the top 100 coins showing a similar bullish signal. The decline in the dollar index and easing of war fears are also supporting the bullish case in risk assets.