Bittensor and Theta have also recorded double-digit gains over the past 24 hours, reaching levels at which bulls may consolidate to extend the bullish momentum.
Meanwhile, the global crypto market cap jumped 2% to $3.37 trillion, benefiting from Bitcoin’s rise above $97,000.
Among the top cryptocurrencies by market cap, Algorand, XRP and Stellar The highest increase has been recorded in 24 hours.
Bitcoin price: Analysts share short-term predictions
Bittensor (TAO) and Theta Network (THETA) are some of the top cryptocurrencies by market cap that have seen good gains in the last 24 hours.
This comes as the price of Bitcoin (BTC), which had fallen below $91k at the beginning of the week, rose again to above $97k on November 29.
Analysts believe that BTC will reach a new all-time high above the coveted $100,000 mark. Specifically, the Bitcoin Fear and Greed Index reads “Extreme Greed” With BTC Above $97k.
according to crypto analyst aliSome kind of Thanksgiving rally could push BTC to $99k with a potential breakout above the psychological level of $100,000.
Theta Network (THETA) price
Theta Network is rapidly becoming one of the leading decentralized cloud infrastructure providers for artificial intelligence, media, and entertainment.
Over the past months, there has been notable adoption of the project’s infrastructure, with partnerships growing for its EdgeCloud AI.
Theta’s price has steadily increased amid this trajectory.
In the last 24 hours, the token has increased by 14% and is up by 32% and 87% in the last week and 30 days respectively.
At the time of writing Theta was priced at $2.23 – the token’s highest level since June.
Bittensor (TAO) price
Bittensor price was up 11% after breakout below $550.
The AI-related coin reached a high of $639 and could touch an all-time high of $767 in April 2024.
In case of a pullback, TAO has a strong support zone near $500.
Crypto analysts say the rally seen in AI tokens could help Bittensor, the top coin by market cap in the sector, hit a new ATH.
“TAO is the AI market leader, and if it performs well, the entire sector will benefit,” Miles Deutscher noted On X.
positive crypto market sentiment
The gains for Bitcoin and the broader market came when Russian President Vladimir Putin signed a law recognizing Bitcoin as an asset.
Russia now officially recognizes BTC as an asset, a development that reflects a growing trend by governments around the world to promote the asset.
While Russia has now tightened its grip on digital assets and related activities, Putin’s move is a major signal that BTC and crypto could play a bigger role in the country’s economic strategy.
The US has taken a proactive approach in supporting crypto and blockchain innovation in recent months.
President-elect Donald Trump’s pro-crypto stance is one of the key indicators of this impact
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