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Crypto Price Today: Bitcoin Stays Above $104K, PEPE and BONK Rally; Ethereum Eyes $2,600 Breakout
By: icodesk io|2025/05/12 15:15:06
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Bitcoin Maintains $104K Support; Ethereum, Cardano, and Memecoins Show StrengthAs of May 12, 2025, the global cryptocurrency market capitalization stands at $3.34 trillion, showing a slight daily dip of 0.14%. While the broader trend remains cautiously optimistic, top assets like Bitcoin and Ethereum anchor the market, and memecoins lead the charge on the retail front.Bitcoin (BTC): Holding Strong Above $104KBitcoin is currently priced at $104,072, reflecting a minor 24-hour decline of 0.08%. The intraday high touched $104,923, while support held firm at $103,445. This price stability comes amid continued institutional interest, especially from ETF inflows and derivatives markets. Derivatives volume remains high, up over 35% week-on-week, with the long/short ratio showing a slight long bias on major exchanges like Binance and Bybit. Analysts note that BTC is currently forming a bullish flag pattern, suggesting potential for another breakout toward $107,000 if macro sentiment remains stable.Ethereum (ETH): Consolidating Gains After Pectra UpgradeEthereum is trading at $2,516.20, down 0.84% in the past 24 hours. The asset showed intraday movement between $2,452.84 and $2,558.83. Since the Pectra upgrade went live on May 7, ETH has surged over 30%, driven by improved transaction efficiency and reduced gas fees.On-chain data also shows a sharp rise in active addresses and staking deposits. The next resistance is $2,600; if broken, the path opens toward $2,750 in the short term. Support continues to form near $2,450, where buyers have stepped in repeatedly.Altcoins: Tether, BNB, and Cardano Show Varied TrendsTether (USDT):Tether remains firmly anchored at $1.00, with minimal fluctuations. As the dominant stablecoin, USDT continues to absorb trading volume across centralized exchanges and DeFi protocols, contributing over 65% of stablecoin-based trade pairs globally.BNB (BNB):BNB is down 1.53% over the last 24 hours, trading at $656.58. Despite the mild correction, BNB remains one of the top performers among exchange-based tokens, buoyed by Binance’s expanding launchpad activity and rising TVL on BNB Chain. Resistance lies at $670, with support at $645.Cardano (ADA):ADA is priced at $0.81, marking a modest 0.02% gain. The altcoin continues its slow climb amid anticipation of the Leios scalability rollout, expected to improve throughput and enable better dApp support. Staking participation remains high, and ADA’s recent breakout past the $0.78 resistance has strengthened its bullish structure. Eyes are now on the next target at $0.87.Avalanche (AVAX): Building Bullish MomentumAVAX is trading at $25.20, slightly down 0.59% today after a strong weekly rally. A breakout above $25.50 could trigger a move toward the $28 – $30 range, though resistance remains from holders at higher levels.Meme Coins: PEPE and BONK OutperformPEPE:PEPE has gained 7,15% in the last 24 hours, currently trading at $0.00001408. The rally is backed by rising on-chain volume, a surge in wallet activity, and a recent crossover in the MVRV ratio above 1.0 signaling investor confidence. If bulls maintain this pressure, PEPE could target $0.000016 this week, although volatility remains high.BONK:BONK jumped 2.30% in the last 24 hours to $0.00002363. Riding on strong community engagement and Solana-based NFT momentum, BONK is seeing renewed interest from speculative traders. Analysts highlight a bullish pennant forming on the 4H chart, with the next key resistance at $0.0000267.Market Outlook: Eyes on Breakout TriggersWith Bitcoin and Ethereum holding firm above key levels, the crypto market maintains a cautiously bullish structure. Altcoins show mixed performance, with Cardano showing resilience and BNB consolidating. Memecoins like PEPE and BONK are capitalizing on speculative sentiment, making them short-term standouts.Traders should watch macroeconomic news, U.S. ETF inflows, and technical breakouts across major coins for momentum cues this week.The post Crypto Price Today: Bitcoin Stays Above $104K, PEPE and BONK Rally; Ethereum Eyes $2,600 Breakout appeared first on ICO Desk.
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