Major Cryptocurrencies Experience Moderate Rally, Leaving Smaller Coins Behind

The cryptocurrency market is witnessing a modest upswing, with major players like Bitcoin and Ether making notable gains alongside the US equity market, as oil prices decrease after shedding the war premium. However, this growth is limited to a select few, with broader market participation still elusive. Bitcoin and Ether have seen increases of 5% and 9% respectively over the past 24 hours, driven by strong demand from digital asset treasury firms and traders seeking bullish exposure through futures, with perpetual funding rates indicating healthy demand without signs of overheating. Other coins like Solana's SOL and XRP have shown movement but lack clear direction. Analysts remain bullish, awaiting Bitcoin to establish a strong foothold above $74,000-$75,000 to pave the way for further growth towards the $87K-$90K range. The need for consolidation above $73k-$74k without market overheating is stressed, with select altcoins and memecoins continuing to rally. Despite Bitcoin's price convincingly surpassing its 50-day moving average, a bullish signal, only a portion of the top 100 coins are following this trend, indicating the broader market's hesitation to fully participate in the rally. Traditional market trends, such as the decline of the dollar index, support the bullish case for risk assets.