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A closely followed crypto analyst says that an all-time high of fresh capital has entered the digital assets market during the last 30 days.
In a new thread, crypto strategist Ali Martinez tells his 55,500 followers on the social media platform X that the crypto markets have been inundated with record-high capital inflows in just the past month alone.
“The crypto market has witnessed the most significant capital influx ever, boasting an all-time high of $110 billion in fresh capital!”
Martinez goes on to highlight some whale activity in the last month, which includes deep-pocketed investors gobbling up massive amounts of the meme asset Dogecoin (DOGE) over a two-week period.
“Dogecoin whales have purchased 1.40 billion DOGE over the past two weeks, worth around $280 million!”
Dogecoin is trading for $0.213 at time of writing, a 6.74% increase during the last 24 hours.
Moving on to the top crypto asset by market cap, Martinez says Bitcoin (BTC) appears to be forming a bullish technical pattern on the 30-minute chart. According to the trader, BTC may witness a breakout rally if it moves above its immediate resistance.
“Bitcoin shows [an inverse] head-and-shoulders formation on the 30-minute chart. Should BTC maintain its position above the 200 EMA (exponential moving average) and surpass the neckline resistance at $71,580, we could anticipate a potential increase of 4.44%, targeting a price of $74,760.”
Bitcoin is trading for $70,468 at time of writing, a fractional increase on the day. On January 23rd, the flagship digital asset was trading for $39,833.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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