The cryptocurrency market is experiencing a resurgence as Bitcoin (BTC) breaks past $99,000, approaching the monumental $100,000 mark. After two weeks of bearish trends, the crypto space is back in the green, with leading altcoins showing positive momentum. Today’s biggest winners include SPX6900 (SPX) and Filecoin (FIL), each surging by 12%. The global crypto market cap climbed 1% to $3.49 trillion, despite a slight 2% dip in trading volume to $83 billion. The Fear and Greed Index currently reads 60, reflecting a shift toward greed in market sentiment.
Bitcoin Edges Closer to $100K
Bitcoin’s bullish momentum has captured the spotlight as it trades at $99,100, marking a 1% gain over the last 24 hours. The flagship cryptocurrency’s 24-hour high and low were $99,265 and $97,314, respectively. Bitcoin’s market cap now stands at $1.96 trillion, supported by a $24 billion trading volume. SoSo Value data revealed that Bitcoin ETFs saw weekly inflows of $244 million, reflecting increased institutional interest.
Ethereum, XRP, and Solana Join the Rally
Ethereum (ETH): Gained 1%, trading at $3,668 with a market cap of $441 billion. The 24-hour high was $3,682, and the low was $3,595.
XRP: Saw a 1% increase, trading at $2.40, with 24-hour highs and lows of $2.43 and $2.33.
Solana (SOL): Rose by 1%, trading at $216, with highs and lows of $218 and $211.
Ripple CEO Brad Garlinghouse highlighted the positive operational impact of recent political developments, adding to XRP’s bullish outlook.
Today’s Top Gainers: SPX and Filecoin
SPX6900 (SPX): Surged 12%, trading at $1.48, with a weekly gain of 63%. Its market cap reached $1.38 billion, supported by a $94 million trading volume.
Filecoin (FIL): Gained 12%, trading at $6.23, with highs of $6.28 and lows of $5.52. FIL’s market cap is $3.86 billion, supported by $424 million in trading volume.
Other notable gainers include Movement (MOVE), Injective (INJ), and Artificial Superintelligence Alliance (FET), which saw increases ranging from 8% to 10%.
Mixed Performance: Biggest Losers of the Day
Not all tokens shared the bullish sentiment. VIRTUAL dropped 7%, trading at $4.10. Its daily highs and lows were $4.40 and $3.96, respectively. Other declining tokens include HYPE (-3%), BONK, WIF, and BEAM, which recorded losses between 3% and 4%.
Despite the mixed market performance, the hourly charts show renewed positivity, with Bitcoin and major altcoins turning green. Fartcoin, for instance, gained 5% in the last hour, signaling short-term optimism in the market.
Key Takeaways
The cryptocurrency market’s resurgence highlights Bitcoin’s approach to the historic $100K milestone and altcoins’ continued bullish trends. As institutional interest grows, reflected in ETF inflows, and major coins rally, staying informed through reliable sources like The Bit Journal is crucial for navigating this volatile yet promising market.
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