Bitcoin tested $94,800, memecoin transactions skyrocketed.

Bitcoin Market Activity is Intensifying

Bitcoin peaked at around $94,800 on Monday before pulling back, and is currently trading at $93,600. Investors are discussing taking short positions and positioning for a rise towards $98,900.

Surge in SUI and XRP

SUI has shown an increase of over 15% within 24 hours, driven by speculation regarding potential privacy features. Meanwhile, XRP continues its strong performance with a 29% gain since the beginning of the year.

Increase in Retail Trading Volume

Retail trading reached record levels as the trading volume of Pump.fun hit $1.27 billion. At the same time, interest in BNB Chain’s “Four Memes” tokens has also increased. However, the RSI values, which are in an overbought situation, pose a risk of profit-taking in the near term.