A closely watched cryptocurrency analyst said a record high of new capital has flowed into digital asset markets over the past 30 days.
Crypto strategist Ali Martinez in a new thread says The 55,500 followers of social media platform
“The cryptocurrency market has seen its largest capital inflow ever, boasting a record $110 billion in new capital inflows!”
Martinez continues highlight Whale activity last month saw deep-pocketed investors gobbling up massive amounts of meme asset Dogecoin (DOGE) over a two-week period.
“Dogecoin whales have purchased 1.4 billion DOGE worth approximately $280 million in the last two weeks!”
Dogecoin is trading at $0.213 at the time of this writing, up 6.74% in the last 24 hours.
Moving on to the top cryptocurrency asset by market capitalization, Martinez said Bitcoin (BTC) appears to be forming a bullish technical pattern on the 30-minute chart. According to traders, we could witness a breakout rally if BTC moves above the immediate resistance level.
“Bitcoin shows a (contra) head and shoulders pattern on the 30-minute chart. If BTC maintains its position above the 200 EMA (exponential moving average) and surpasses the neckline resistance at $71,580, we can expect a potential increase of 4.44% with a price target of $74,760.”
At the time of this writing, Bitcoin is trading at $70,468, a slight increase on the day. On January 23, the leading digital asset was trading at $39,833.
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