The cryptocurrency market is gaining positive momentum today. Bitcoin (BTC) is approaching the $100,000 target by exceeding $99,000 after a two-week downtrend. Popular altcoins such as SPX6900 (SPX) and Filecoin (FIL) stand out with a 12% increase on a daily basis. While the market value has reached $3.49 trillion, the trading volume remains at $83 billion with a slight decline.
Bitcoin is trading around $99,600, up 1% on the day. The lowest value during the day was $97,314, while the highest value was $99,265. Major altcoins such as Ethereum (ETH), XRP, and Solana (SOL) are also up around 1%. This shows that the altcoin market is generally moving in parallel with Bitcoin’s movements.
Ripple CEO Brad Garlinghouse stated that Donald Trump’s election victory had positive effects on the company’s operations. This statement led to a slight recovery in the price of XRP. In addition, Bitcoin miner Marathon Digital Holdings announced that it has leased 16% of its reserves due to increased institutional demand. These developments reinforce the interest of institutional investors in the crypto market.
SPX6900 and Filecoin are at the top with daily increases of 12%. SPX6900 has made a remarkable increase of 63% in the last week. Filecoin attracts the attention of investors with a market value of $3.86 billion. In addition, FET coin is expected to rise to $3 within the framework of the burning plan.
Among the losers, Virtual Protocol suffered the biggest loss with a 7% drop, while Hyperliquid lost 3%. Coins such as BONK, WIF and BEAM fluctuated around 3-4%.
On an hourly basis, Bitcoin and many altcoins are trading in the green, with Fartcoin showing a short-term increase of 5%. The general positive atmosphere in the market is increasing investors' willingness to take risks. The Crypto Fear and Greed Index is at 60 levels; this shows that the market has entered greed mode.
