Bitcoin tests key resistance level as SUI and XRP gains reveal risk appetite
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Bitcoin briefly touched its highest point since mid-November last year before pulling back, reaching a peak of around $94,800 on Monday and then retreating to about $93,600. Traders are divided between shorting and a potential breakout to $98,900. SUI surged over 15% within 24 hours due to speculation about potential privacy features, while XRP has risen 29% cumulatively since January 1. Retail trading is active, with Pump.fun's trading volume hitting a record $1.27 billions. The "Big Four Meme" tokens on BNB Chain are also attracting attention, but the overbought RSI indicator suggests there may be short-term profit-taking risks.
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