2 weeks Ago
The crypto market today, as of 10:59 AM, is down by 1.16% to $2.9 trillion, showing mixed sentiments.
Major cryptos, including Bitcoin, continue the upward momentum. Bitcoin ETF inflows, easing trade tensions, and growing institutional interest are driving this rally. Bitcoin’s market capitalization now stands at $1.
86 trillion, surpassing Google’s. The world’s top cryptocurrency has now become the fifth-largest asset in the world. Altcoins like Ethereum, Dogecoin, and Cardano are also riding the wave of positive market sentiment.
However, BNB and TRON have seen minor corrections. Let’s explore the latest market movements and find out the factors driving this crypto bull run today. Bitcoin (BTC) is 2.
9% higher over the last 24 hours, currently trading at $92,828.51. One of the biggest contributors to the BTC price hike is the growing demand for Bitcoin ETFs.
Bloomberg's lead ETF analyst Eric Balchunas emphasized this through a X (formerly known as Twitter) post: The spot bitcoin ETFs went Pac-Man mode yesterday, +$936m, $1.2b for week. Also notable is 10 of 11 of the originals all took in cash too.
Good sign to see flow depth vs say $IBIT doing 90% of the lifting. Price up $93.5k.
Pretty strong all things considered IMO. pic.twitter.
com/HeLwffgT8F As per B2BInPay market analysts, Bitcoin's breakout above $88,760 now has it moving towards $95,000 and $99,500 liquidity levels. A continued breakout would propel Bitcoin into new all-time highs, further solidifying its leadership. While Bitcoin is often referred to as ‘digital gold,’ recent price action suggests that it is behaving more like a high-growth tech stock .
Gold prices dropped 3.3% today while Bitcoin exploded, indicating that the two are acting differently in risk environments. With ETF momentum building and institutional demand increasing, Bitcoin’s market cap may soon pass NVIDIA’s.
Ethereum has made a solid recovery with a 1.69% gain today but still lags behind Bitcoin when it comes to performance. Although being the basis of most decentralized apps, Ethereum's slow transaction times and high gas prices are issues.
Rivals such as Solana and Avalanche have been eroding its market share with quicker and more affordable options. Cardano (ADA) and Solana (SOL) are also experiencing double-digit rallies. Solana has been one of the biggest winners today.
A 10.26% spike has renewed faith in its ecosystem, especially among NFT and DeFi developers seeking scalability. ADA also impressed with a 12% surge on increasing staking activity and developer engagement.
Dogecoin rallied 6.2% today but remains far below its 2021 highs. Without a strong use case, DOGE still trades as a speculative meme asset.
Unless real utility is built into the token, its long-term prospects remain uncertain. In a twist of events, the TRUMP token rose by 70%. The rally followed the announcement of an elite Trump dinner event with major token holders.
The event comes in the wake of a $300 million unlock of TRUMP tokens, injecting tremendous new supply into the market. Although The controversial token continues to be criticized over its lack of utility and political heavy baggage. Markets lifted on growing optimism that the US-China trade war will ease.
Treasury Secretary Scott Bessent provided a whiff of tariff softening in a private JPMorgan session. He confirmed at the IMF and World Bank Spring Meetings that a de-escalation may be announced ‘very soon’. President Trump further fueled the market optimism.
He indicated that tariffs on Chinese imports would ‘come down significantly,’ although they ‘won't be zero.’ This has reduced recession fears in the US. The possibility of a reduction in trade tensions helped not only crypto but also technology and growth stocks.
Bitcoin, Ethereum, and Dogecoin all are now trading in sync with high-growth equities. However, decoupling from equities could still continue. Though the current rally has gotten investors pumped, the crypto market is still very volatile.
Bitcoin as a hedge or store of value remains a point of contention, especially following its drop earlier this month due to inflation and tariff concerns. Ethereum and Dogecoin could experience more short-term increases. However, long-term sustainability depends on usability and network performance.
According to experts, for now, crypto will probably continue to be a high-risk, high-reward asset class in the near term..
