Crypto market today, June 29, 2024: Bitcoin hits $107,000, Ethereum and altcoins surge
- Jun 29
- 2 min read
On June 29, 2024, the cryptocurrency market is buzzing with excitement as Bitcoin surpasses the $107,000 mark, marking a historic milestone. Ethereum and other altcoins continue to perform strongly amid major innovations and growing adoption. Investors worldwide are closely monitoring technological advances and regulations shaping the digital ecosystem’s future.
Bitcoin (BTC) – New all-time high momentum
Bitcoin is currently trading near $107,000, up more than +4% in the past 24 hours. This performance consolidates the bullish trend that started months ago, driven by growing demand from institutional investors and hedge funds.
Key support: $103,500
Immediate resistance: $110,000
Daily RSI: 65 (moderate overbought zone)
Technically, Bitcoin approaches a key resistance area, and breaking above $110,000 could pave the way to $120,000. Additionally, stable interest rates in the US and crypto-friendly regulations have boosted investor confidence.
Ethereum (ETH) – Accelerated growth on Layer-2 and NFTs
Ethereum rose +3.8% to around $4,500. The Ethereum ecosystem is propelled by the development of Layer-2 protocols (Optimism, Arbitrum), enabling faster and cheaper transactions. The NFT market is expanding, with Ethereum maintaining its leadership.
TVL (Total Value Locked): $75 billion
Daily DEX volume: over $1.5 billion
Important NFT projects launched in the past 30 days
Altcoins – Notable performers
Polygon (MATIC) +6.3%, boosted by gaming and NFT adoption.
Chainlink (LINK) +5.2%, after new DeFi and staking integrations.
Solana (SOL) +2.4%, continuing recovery after recent volatility.
Market sentiment
Crypto Fear & Greed Index: 70 (Strong Greed)
Bitcoin dominance: 48.5%
Total market cap: $3.1 trillion
Interesting facts
MicroStrategy increased its total Bitcoin holdings to over 250,000 BTC, consolidating its position as a leading institutional holder.
El Salvador continues developing projects to integrate Bitcoin into national infrastructure, including a payment network.
A record number of financial institutions announce crypto-based financial products, including ETFs and mutual funds.
Opinions and analysis
Michael Saylor, MicroStrategy: “Bitcoin is not just a digital currency but a revolutionary asset class, and $100,000 is just the beginning.”
Raoul Pal, Real Vision: “Ethereum’s DeFi and NFT ecosystem offer huge medium and long-term growth opportunities.”
Cathie Wood, Ark Invest: “Blockchain and AI investments will propel crypto markets to new highs.”
Risks and challenges
Potential stricter regulations in some countries that could reduce liquidity.
Market volatility driven also by whale activity (large investors).
Global macroeconomic uncertainties, especially inflation and monetary policy.
Conclusion
On June 29, 2024, the cryptocurrency market shows strong momentum, with Bitcoin at $107,000 and Ethereum and other altcoins rising steadily. The environment is favorable for further rallies, but investors must stay vigilant to risks. Layer-2 technology, NFTs, and AI integration remain key drivers of this spectacular evolution.
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