TL;DR
- Bitcoin has climbed above $109,000, up 2.05% in 24 hours, while Ethereum stabilized around $3,880 with a 2.24% gain.
- The total crypto market capitalization rose 1.3% to $3.8 trillion, signaling renewed buying interest.
- Analysts note cautious optimism as major altcoins like BNB, Solana, and Hyperliquid lead the rally amid restrained volatility and growing institutional engagement through ETF filings.
The cryptocurrency market opened Thursday with strong momentum as Bitcoin surged past $109,000 and Ethereum held close to $3,900, signaling a modest yet promising recovery across digital assets. According to CoinMarketCap data, the global crypto market capitalization expanded to $3.8 trillion, a 1.3% increase over the past day. More than 80 of the top 100 tokens posted gains, reflecting a broad-based uptick in sentiment despite underlying caution from traders.
Analysts attribute this movement to a combination of ETF-driven anticipation, institutional repositioning, and cooling inflation expectations in major economies. Many investors are positioning ahead of the U.S. Consumer Price Index release on Friday, an event likely to influence near-term momentum in both equities and crypto.
Major Coins Record Gains Across The Board
Bitcoin (BTC) climbed 2.05% to trade at $109,486, while Ethereum (ETH) gained 2.24%, reaching $3,880. Among top performers, Binance Coin (BNB) jumped 3.15% to $1,099, Solana (SOL) rose 2.61% to $188.55, and Dogecoin (DOGE) advanced 2.55% to $0.1946. Even traditionally slower movers such as XRP (+1.20%) and Cardano (+1.59%) joined the upswing, indicating widespread participation.
The standout performer was Hyperliquid (HYPE), which rallied 11.38% to $39.17, followed by BNB and Solana. These moves come after several days of subdued trading and minor corrections, suggesting a potential rebound in short-term trader confidence.
Market data also show improved liquidity and rising spot demand, although derivative markets remain cautious. Glassnode reports that Bitcoin is trading just below the short-term holder cost basis, which typically precedes consolidation before a new trend forms.
ETFs, Institutions, And Market Sentiment
Institutional dynamics continue to shape market flows. U.S. spot Bitcoin and Ethereum ETFs saw modest outflows this week, but optimism persists after the 87-year-old investment firm T. Rowe Price filed for its first crypto ETF. The move highlights a gradual normalization of digital assets within traditional finance circles.
Meanwhile, the Crypto Fear and Greed Index remains in the “fear” range at 28, reflecting ongoing uncertainty but also potential room for upside if macroeconomic data align with investor expectations.
