Ether and Dogecoin Lead Crypto Gains as Market Maintains Bullish Tone Despite Macro Pressures
The crypto market held firm on Wednesday, with altcoins continuing to outshine even as broader macroeconomic signals introduced caution. Ethereum’s ether (ETH) and dogecoin (DOGE) led the charge, each gaining 9% over the last 24 hours — capping a strong week of double-digit growth.
Market data from CoinGecko showed a 1.7% uptick in total crypto market capitalization, with bitcoin (BTC) trading just under $104,000 during the Asian session. ETH surpassed the $2,600 mark, and DOGE hovered near $0.24. Other top altcoins including XRP, BNB, ADA, and SOL posted modest gains of 3% to 5%.
However, sentiment is being tempered by renewed macroeconomic uncertainty. A strengthening U.S. dollar — driven by tariff headlines — is creating headwinds for risk assets. “Bitcoin’s proximity to its highs makes it vulnerable to short-term pullbacks, especially with the dollar gaining strength,” said FxPro’s Alex Kuptsikevich.
Bitcoin continues to drift in a narrow range as markets weigh its dual identity. “BTC remains stuck between narratives — store of value vs. risk asset,” wrote analysts at QCP Capital. “Until that resolves, we expect continued sideways action.”
Despite the pause in bitcoin’s momentum, investor confidence remains high. The Fear & Greed Index has held in “greed” territory for four straight days, indicating sustained bullish sentiment.
“Bitcoin’s next move near the $105,000 resistance zone will be critical,” Kuptsikevich noted. “A clean break could reignite upward momentum, but failure might invite near-term consolidation.”
Institutional interest remains strong. CoinShares reported $882 million in digital asset inflows last week — the third straight week of positive flows. Bitcoin attracted the lion’s share at $867 million. Ether posted $1.8 million in inflows, while Solana (SOL) saw $3.4 million in outflows. Still, traders appear bullish on SOL’s long-term potential, accumulating call options with $200 strike prices for June expiry.
