Major Cryptocurrencies Experience Steady Growth as Market Participation Remains Limited

The cryptocurrency market is witnessing a surge in major digital assets, including Bitcoin and Ether, which have risen by 5% and 9% respectively over the past 24 hours. This growth is accompanied by gains in US equities and a decline in oil prices. However, broader market participation remains restricted to a select few coins. Bitcoin and Ether's positive perpetual funding rates, which are below 10%, indicate healthy demand without signs of overheating. Analysts remain bullish but are waiting for Bitcoin to establish a strong foothold above the $74,000-$75,000 range. A break above this range could pave the way for further growth to the $87,000-$90,000 range, where the 200-day moving average and November-January support are located. Some altcoins, such as ZEC, HYPE, and AAVE, continue to rally, but the broader market has yet to fully participate in the Bitcoin rally. Traditional metrics, such as the 50-day moving average, indicate a bullish signal for Bitcoin, but only 51 of the top 100 coins are showing similar behavior.