2 days Ago
Crypto market cap as of 11:01 AM is up by 0.28% to $2.96 trillion.
Bitcoin leads the market with a 0.35% increase to $94,377. Ethereum rises 0.
24%, and XRP gains 9%. Altcoins like Solana and Cardano also see positive movements amid increasing ETF interest. The crypto market today shows mixed sentiments.
Most cryptocurrencies are flat or slightly up. The macro environment, however, from President Trump's broad tax overhaul to the surge in ETF demand and tensions in South Asia, is preparing the ground for the next significant move. Bitcoin’s resilience, coupled with growing institutional interest, supports its position as a safe-haven asset.
Let’s explore the movements of the top ten cryptos over the last 24 hours to understand what to expect from the market in the coming months. Bitcoin (BTC) is trading at $94,377.62, representing a 0.
35% increase over the past 24 hours. It has a market capitalization of $1.87 trillion with a volume of $30.
75 billion. There are 19.85 million BTC in circulation.
Following President Trump's approval of a 90-day tariff pause on most tariffs, Bitcoin jumped 14% since April 9, far outpacing the S&P 500's 1% increase. “Bitcoin was unscathed and has profited from investors looking for alternative safe-haven assets ," said James Butterfill of CoinShares. New figures reinforce that Bitcoin ETFs had their best week of inflows since December, taking in more than $3 billion, as investors read Trump's tariff resolution as a positive macro indicator.
Fueling the fire, the Trump administration formally designated Bitcoin as a commodity, just like oil or gold. "Once you accept the idea of commodity, you'll see how lovely that is," Cantor Fitzgerald CEO Howard Lutnick stated. He also talked about the US boosting Bitcoin mining in the near future, as can be seen in the following interview clip: NEW: 🇺🇸 Commerce Secretary Howard Lutnick says the US is going to "turbocharge #Bitcoin mining in America.
" 🚀 pic.twitter.com/fH1Hi4tVQi Ethereum (ETH) went up 0.
24% to $1,792.19. Its market capitalization stands at $216.
36 billion, with $15.74 billion in daily trade volume. ETH's circulating supply is 120.
72 million. Ethereum increased by 11% over the last week, gaining momentum from both investor sentiment and new ETF applications. Specialized filings include Ethereum staking ETFs and Ethereum options ETFs, marking increased institutional faith in its shifting ecosystem.
Trump's Executive Order on Strategic Crypto Reserves also includes Ethereum. This move can fuel long-term HODL sentiment among institutional investors. Solana and Cardano registered the most gains among the top altcoins.
Solana (SOL) is resilient with a 1.66% gain to $146.44.
Cardano (ADA) surged 1.87% to $0.6985.
Meanwhile other altcoins have seen slight growth. XRP is at $2.27 after a marginal 0.
15% increase. BNB (Binance Coin) went up 0.33% to $606.
40. TRON (TRX) followed suit. It increased 0.
94% to $0.2471. All the above tokens are up due to the growing institutional adoption and pending ETF filing with the SEC for the year-end.
VanEck, Grayscale, and Bitwise have filed for Solana ETFs and more, which implies altseason is approaching. Dogecoin (DOGE) soared 0.83% over the last 24 hours to $0.
1777. Its market capitalization is $26.49 billion.
Meme coins are now being favored by institutions. DOGE specifically has garnered attention due to Elon Musk and Trump’s promotion of the token. So, it may shift from retail-driven to an ETF-backed coin.
In a chain of US policy pronouncements, President Trump described his intentions to ‘substantially cut’ or completely eliminate federal income taxes. The move would be particularly for those who make less than $200,000. He echoed the sentiment in a Truth Social post on April 27, stating, "It will be a bonanza for America.
The External Revenue Service is happening,". The proposal would redirect tax revenue to tariffs on foreign imports, radically altering economic policy and potentially driving long-term interest in decentralized assets, such as cryptocurrencies. Establishment of a Strategic Bitcoin Reserve, presently holding 200,000 seized BTC.
A second Crypto Reserve for Ethereum, Solana, and XRP. Prohibition on the creation of a US CBDC. Executive endorsement of public blockchains and mining.
A newly established Presidential Working Group on Digital Asset Markets, led by David Sacks. Although crypto has been resilient, war fears loom. Investors are on edge as tensions between India and Pakistan rise, after a fatal attack in Kashmir and retaliatory cross-border fire.
This local conflict, coupled with Trump's continued tariff policy uncertainty, has shaken risk markets. Short-term volatility can be expected, although analysts remain optimistic about the long-term growth prospects. It’s essential to note that, despite the anxieties, Bitcoin and Ethereum have remained stable.
Thus, bolstering their new storyline as ‘flight to safety’ assets. It remains to be seen whether these top cryptocurrencies will continue to thrive or crumble under broader macroeconomic pressures..
