Optimism about digital assets stoked by Bitcoin s run to a record high has helped push the total value of cryptocurrencies to an all-time peak of more than $2.7 trillion.
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That s a climb of about $200 billion from the last high in May for a sector that now spans almost 10,000 coins, according to data from the tracker CoinGecko.
Ether - - the largest token after Bitcoin - rose as much as 3.3% on Thursday to within striking distance of its highest value of almost $4,400 achieved in May.
Analysis of chart patterns suggests Ether, along with Solana, Polkadot, Tezos and Binance Coin, are all close to their own breakouts, strategists at Fundstrat said in a report Wednesday.
Bitcoin hit a peak of almost $67,000 on Wednesday before dipping below $65,000 as of 7: 15 a.m. in London on Thursday. The question now is whether the famously volatile asset will push on or succumb to a bout of selling as speculators take profits.
A reversal would likely also dent sentiment in the crypto market as a whole, which suffered a rout mid-year that depressed its value to some $1.3 trillion.
For now bullish sentiment is ascendant. Pankaj Balani, the chief executive officer of crypto-derivatives exchange Delta Exchange, said he expects Bitcoin to outperform other tokens and predicted the largest cryptocurrency will breach $100,000 before year-end.
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