Bitcoin Rally Sparks $42B Demand in Proof-of-Work Sector: LTC, BCH, KAS, DOGE, BTC Price Analysis…

From a technical standpoint, Bitcoin is testing the upper boundary of its Bollinger Bands, which typically indicates a sustained bullish momentum.

Currently trading above the midpoint of the bands, BTC has shown resilience in holding its gains, with the balance of power (BoP) suggesting neutral to weak buying pressure. However, a breakout above key levels could signal further upside.

Bitcoin faces immediate resistance at $69,500, a level that, if breached, could open the door for a weekend rally toward $70,000 or even higher. Traders will be eyeing $70,000 as a psychological threshold, and clearing this level could lead to a test of $72,000, especially if institutional demand intensifies.

On the downside, Bitcoin’s support lies at $66,500, and should it slip further, $65,000 would serve as a critical safety net. As long as Bitcoin remains above these support zones, the broader bullish trend is expected to hold.

Dogecoin Price Forecast: DOGE Rally Could Extend Above $0.15

Dogecoin (DOGE) has been the standout performer among proof-of-work cryptocurrencies this week, with a 25% surge over the past seven days. Currently trading at $0.1386, DOGE has gained 13% in the last 24 hours alone, marking a swift rebound from early October when it was priced below $0.11.

This resurgence has been primarily driven by renewed retail interest, coupled with a series of indirect mentions from Elon Musk that have kept Dogecoin in the spotlight.

In addition to retail enthusiasm, there has been increased speculation about the potential for Dogecoin to be integrated as a payment option on various platforms, enhancing its utility. With growing media attention, the meme coin is regaining its appeal as a viable digital currency.