The cryptocurrency landscape has witnessed a remarkable surge, with the market experiencing a 4.34% rise in the past 24 hours, culminating in a total valuation of $3.31 trillion. This notable increase aligns with a substantial boost in trading volume, which soared by 30.98% to reach $248.9 billion. Investor enthusiasm is palpable, as evidenced by the Fear & Greed Index, currently displaying “Extreme Greed” with a score of 88. As Bitcoin inches closer to the monumental $100,000 mark and with impending changes at the SEC, like Gary Gensler stepping down from the chairman’s role, investors are eagerly monitoring market developments.
Bitcoin Hits New ATH Above $99k, Dominance Stays Strong
In an unprecedented move, Bitcoin’s price hit a new all-time high (ATH) of $99,314.95 before slightly retracting to $99,011.98, marking a daily increase of 1.25%. Bitcoin’s 24-hour trading volume surged to $97.50 billion, a significant 13.17% rise. The cryptocurrency’s dominance remains robust at 59.24%, with Bitcoin ETFs attracting inflows totaling $397 million, further bolstering market sentiment. Investors keenly await Bitcoin’s next move, with many turning to expert analyses and predictions to gauge potential future price movements.
Altcoin Watch: Solana & XRP Shine
Ethereum, the second-largest cryptocurrency by market cap, made modest strides with a 0.19% increase, reaching $3,394.18. However, it was Solana that captured the spotlight, setting a new all-time high at $262.58 and ending the day with an impressive 8.90% gain. XRP also made headlines with a remarkable 25.33% jump to $1.40, signaling strong investor interest and renewed attention to altcoins in the current market climate.
Top Gainers & Losers
Among the top performers, FTX Token (FTT) led the rally, skyrocketing by 41.35% to $2.83. Mog Coin followed closely with a 33.35% surge to $0.0000002925, and XRP rounded out the top three with its substantial 25.33% rise. On the flip side, Bitcoin SV (BSV) experienced the largest setback, declining by 10.73% to $68.73. PNUT and eCash also faced losses, dropping by 10.08% and 9.21%, respectively. As the crypto markets continue their upward trajectory, the pressing question remains: will this momentum persist, or will we face resistance ahead?
FAQs
Why is the crypto market up today?
The crypto market’s upward momentum can be attributed to Bitcoin achieving a new all-time high, coupled with the anticipation of it reaching the $100k milestone, which has invigorated altcoins across the board.
Why is Solana’s (SOL) price rising today?
The recent filing of Solana ETFs has been a crucial factor in driving the price surge of SOL, resulting in it reaching a new all-time high of $262.58.
Will Bitcoin (BTC) price hit the $100k mark today?
There is a growing optimism among market participants that Bitcoin may soon hit the $100k mark, as positive sentiment continues to fuel the market.
