Ethereum & Dogecoin Surge 9%: Both coins extended bullish streaks

Cryptocurrency prices extended their bullish streaks on Wednesday, with Ethereum rising nearly 9% to surpass $2,600 and Dogecoin surging to around $0.24.

The total crypto market cap advanced by 1.7%, with Bitcoin remaining largely stable around the $103,700 mark. However, despite the green candles, traders approached the market with some caution. A slight strengthening of the U.S. dollar and renewed trade tensions brought a threat of short-term profit-taking, especially with Bitcoin trading close to its all-time highs.

Crypto Market Today

Bitcoin price hovered at $103,655.04.

Ethereum price climbed above $2,630.12.

Dogecoin price shot up to around $0.24.

Solana price moved up to about $181.38.

XRP price rose to around $2.61.

Crypto Fear and Greed Index was at 70, deep in Greed territory.

While the market mood remained positive, analysts at FxPro pointed out that the U.S. dollar’s strength could naturally put some pressure on crypto markets.

Meanwhile, analysts at QCP Capital observed that Bitcoin seemed to be caught between two narratives—a safe haven and a risk asset—which could bring some indecision to the market.

Despite these factors, the broader crypto market showed strength with a 1.7% gain in the past 24 hours, and the crypto Fear & Greed Index stayed above 70 for the fourth day, suggesting sustained bullish sentiment among investors.

Bitcoin price action was also closely monitored near the $105,000 mark as it prepared to either break higher or stall.

Moreover, institutional appetite for crypto remained strong, with investment products collectively attracting inflows of $882 million last week, according to data from CoinShares. Bitcoin led the inflows with a dominant portion of $867 million, while Ethereum also saw modest capital inflows.

However, Solana witnessed outflows of $3.4 million, even though traders were actively buying call options targeting a $200 price by late June.

Overall, while global market factors may influence short-term trading action, the sustained altcoin energy and strong capital inflows kept the overall crypto market mood fairly upbeat.