Top Reasons Why Crypto Market Is Up Today - CoinPedia Analytics

The crypto market is on fire! Over the past 24 hours, the market cap has surged by 5.35%, hitting $3.64 trillion, with Bitcoin reclaiming the $100K mark. Trading volume has spiked by 35%, reaching $225 billion, signaling strong momentum as December kicks off.

Altcoins are also riding the bullish wave, with Ethereum, $SOL , $XRP , and $DOGE posting gains between 5% and 9%, fueling investor optimism. Institutional interest in Bitcoin has reached new heights, with U.S. Bitcoin ETFs seeing a record $34 billion in inflows, with BlackRock leading the charge.

A major factor driving Bitcoin’s rise is the U.S. November CPI data, which showed inflation is under control, hinting at potential rate cuts by the Federal Reserve. This boosts demand for riskier assets like Bitcoin.

While the rally has caused $272.88 million in liquidations, with short positions suffering the most, Bitcoin’s current price of $100,598 is pushing toward new highs. As long as it holds above $100,000, the market could be poised for even greater milestones this month.