Bitcoin has reset a streak of new record gains over the past 24 hours as the broader market continues to trend upward. While the threat of depending on the profit trend has not yet dissipated, altcoins are standing firm in their efforts to make the most of the momentum.
TinTucBitcoin analyzed the crypto tokens that reached new all-time highs in the past day, led by king Bitcoin.
Bitcoin (BTC)
Currently, Bitcoin is trading at $93,313, slightly below its recent peak of $93,912. This new peak surpassed the previous record set last week, reigniting enthusiasm among investors and signaling persistence in the current uptrend. The subsequent slight decline reflects Bitcoin’s volatile price action amid increased market activity.
Reaching a new high reinforced investor optimism, demonstrating that upward momentum remains strong. This development suggests that Bitcoin could continue its upward trend, potentially attracting more interest from institutions and retail investors. However, maintaining this momentum will be the decisive factor for long-term price stability.
If Bitcoin fails to sustain its recent gains and falls below the key support level at $89,800, the cryptocurrency could face an extended decline. A drop to $85,000 could weigh on investor sentiment and could also trigger additional selling pressure, threatening to undermine Bitcoin’s current bullish outlook.
Bonk (BONK)
Bonk hit a new high at $0.00006230, marking its 5th ATH in the past seven days. However, this meme coin corrected slightly, falling to 0.00005339 USD. This price action represents intense volatility and massive market interest, driven by investors betting on the rise of meme coins.
This ongoing streak of ATHs points to increased investor confidence in meme coins like BONK. This trend could greatly benefit these Tokens, especially as the overall market sentiment remains positive. Inflows from speculative trades could keep Bonk going if momentum is sustained.
However, Bonk must maintain the bullish momentum above the critical support level of $0.00004736 to avoid losing market confidence. A drop below this level could push the meme coin down to $0.00004114, with any further decline likely to invalidate the possibility of further ATHs in the short term.
LEO Token (LEO)
LEO recorded a new high of $8.50, up nearly 8% over the past 24 hours despite not being among the best performing altcoins on the day. The altcoin’s steady growth reflects growing investor confidence and its ability to maintain momentum in a volatile market.
LEO’s current challenge lies in maintaining upward momentum. To continue the uptrend and reach new highs, altcoins need to take advantage of the recent momentum and avoid relying too much on profits. Any signs of psychological weakness can hinder the ability to maintain this trajectory.
If the bullish momentum weakens, LEO could face a pullback towards the $7.63 support level. Losing this important support level will make recovery difficult and could invalidate the current bullish outlook, making investors more cautious with price action in the near term.
