- The crypto market is gaining steam as the general adoption trend has shifted recently.
- For potential breakout rallies, Bitcoin, PEPE, and Pi Coin are worth watching.
The crypto market is picking up steam, as the prices of top digital currencies demonstrate bullish performance. Bitcoin (BTC), the leading market coin, has reclaimed the $99,000 mark, a price point attained in February this year.
Notably, the global crypto market cap has surged 3.3% in the past 24 hours to $3 trillion. This move reinforces the market’s recovery from the losses recorded since March. The price surge in the crypto market is linked to factors including an uptick in institutional investment, favorable macroeconomic conditions, and renewed investor confidence.
As the market shows bullish signals, analysts have spotlighted Bitcoin, PEPE, and Pi Coin (PI) as three cryptocurrencies to watch this weekend.
Bitcoin (BTC)
BTC is the market leader, on which other cryptocurrencies largely depend for their rallies. The asset is close to reclaiming the $100,000 mark, following a 24-hour surge of 2.9%. Currently, BTC is trading at $99,797, with its market cap sitting at $1.98 trillion.
The daily trading volume has increased by over 58% to $53 billion. If the bullish sentiments continue, analysts believe BTC could hit $100,000 again and even reclaim its all-time high.
Meanwhile, institutional interest in the coin is rising. Since late April, BlackRock has purchased Bitcoin, valued at over $4.5 billion.
A pro-crypto government under Donald Trump’s new administration has led to a substantial increase in crypto interest. In a recent update, we covered how Eric Trump claimed he and his father hold a large amount of Bitcoin. Eric is optimistic about Bitcoin’s potential, noting that the coin could record sustainable growth in the long term.
Other notable market figures, including Strategy Chairman Michael Saylor, are optimistic about Bitcoin’s future price movement. As mentioned in our previous news brief, Saylor predicted that Bitcoin would become a $280 trillion asset in the next 20 years.
PEPE (PEPE)
PEPE has rallied 12.8% in the last 24 hours to $0.0000092, as the memecoin pushes to erase one zero from its value. The trading volume surged 45.6% to $765 million, demonstrating the heightened investor activity. The frog-themed memecoin could hit $0.00001 if it continues its upward momentum.
As summarized in our earlier news story, PEPE is among the best-performing meme cryptocurrencies over the last few years. Retail investors have rallied around PEPE due to its large community support and as a potential breakout memecoin.
Pi Coin (PI)
The Pi Network Coin (PI) is another cryptocurrency to consider for this weekend. The coin’s price has rallied over 7% in the last 24 hours to trade at $0.62. PI has gained rapid market attention since its launch.
Given the bullish market conditions, PI could soon reclaim the $1 milestone. As noted in our earlier post, Pi has reached the accumulation phase of the Wyckoff Theory. This move suggests a potential surge due to Fear of Missing Out (FOMO).
