Altcoins jump as bitcoin inches toward potential $74,000 breakout

The bitcoin price is approaching a key technical level while PEPE and other memecoins jump more than 10% in a sign of rising appetite for risk. What to know : BTC is trading around $73,000. A decisive move above $74,000 on strong volume could trigger a rally toward $80,000, a former support level from November. Tokens like PEPE, BONK and PENGU posted strong gains, helping push the altcoin season index to 48 and lifting the crypto market cap excluding bitcoin to about $1.1 trillion. Overbought signals on the relative strength index suggest memecoins could see a pullback before any sustained breakout in the broader altcoin market.