Bitcoin Marches Toward New All-Time Highs As Ether, XRP, SOL, DOGE, And ADA Pump Higher

The price of Bitcoin continued to extend its gains on Wednesday, with the bulls charging towards a new all-time high. BTC briefly surged above the $122,000 threshold before retrenching to $121,680 as of publication time.

Widely-followed trader and analyst Rekt Capital noted that $120,000 was now the BTC price support.

“Bitcoin has fully confirmed its breakout from the Bull Flag and turned the $120k level into new support. Bitcoin has entered trend continuation, with a chance at challenging new All Time Highs soon,” Rekt wrote.

Institutional flows into spot Ether exchange-traded funds (ETFs) and corporate treasuries buying have buoyed Ether, the world’s second-most valuable cryptocurrency by total market cap, lifting it above $4,700 after a 56.5% gain over the past 30 days.

British multinational bank Standard Chartered on Wednesday predicted that ETH could rocket to as high as $25,000 by 2028.

ETH’s latest rally above the $4.7K mark and leapfrogging BTC for year-to-date gains has seemingly reignited the altcoin market in general, with several other alternative crypto assets also notching impressive 24-hour gains.

Solana (SOL), the sixth-largest digital coin by market value, surged to a price of $203.73 before slipping down to the current $199. The token has gained circa 17.7% over the past week, according to data from CoinGecko, and Wednesday’s local peak was the highest price seen for SOL since July 22.

Like Ethereum, Solana may also be benefiting from the slew of new publicly traded treasury companies like DeFi Development, which have raised and acquired billions of dollars’ worth of cryptocurrencies in recent weeks.

Leading canine-themed meme coin DOGE was valued at $0.2429 at press time after leaping by nearly 5% over a 24-hour time frame. In the past seven days, DOGE has risen by 18.2%.

Cardano (ADA), meanwhile, recorded a 4.4% gain during the past day to trade hands at $0.8711. But unlike SOL, which hit a new lifetime high of $293.31 in January, ADA has gone years without hitting a fresh ATH — and still has to climb 71.7% before it smashes its 2021 record high of $3.09.