Bitcoin and Ether Experience Moderate Rally, Leaving Smaller Coins Behind

The cryptocurrency market is witnessing a surge in major digital assets, with bitcoin and ether rising 5% and 9% respectively over the past 24 hours, alongside gains in US equities and declining oil prices. However, broader market participation remains limited, with only a few coins experiencing significant growth. Bitcoin's and ether's perpetual funding rates are positive but below 10%, indicating healthy demand without signs of overheating. Analysts remain bullish but are waiting for bitcoin to establish a foothold above $74,000-$75,000 to pave the way for further gains. A select few altcoins, such as ZEC, HYPE, and AAVE, continue to rally, with HYPE's parent platform gaining share in the perpetual futures market. The broader market, however, has yet to fully participate in the bitcoin rally, with only 51 of the top 100 coins showing bullish signals. The decline in the dollar index supports the bullish case in risk assets, but the market remains cautious, awaiting further consolidation and signs of true demand shift.