The cryptocurrency market experienced a significant surge on Monday. Bitcoin rose by more than 2% in the past 24 hours, reaching $115,423 around 12:00 WAT. Ethereum led gains among altcoins, climbing 6.77% to $4,196. Other major tokens—including BNB, XRP, Solana, Dogecoin, Tron, Cardano, and Hyperliquid—recorded increases of up to 11% over the same period. The overall global crypto market capitalization rose 3.72% to $3.89 trillion, reflecting renewed confidence and heightened trading activity.
The recent upswing in Bitcoin’s price is likely driven by market expectations of a Federal Reserve rate cut anticipated this Wednesday, as well as positive developments in the ongoing US‑China trade tensions. Traders are closely watching Bitcoin as it approaches the $120,000 mark, and anticipation is building ahead of the upcoming US Consumer Price Index (CPI) release. Hyperliquid posted the sharpest 24‑hour surge, jumping 10.51%, followed by Dogecoin, which gained 5.77%. These movements highlight growing interest in alternative digital assets as traders seek diversification and short‑term momentum plays.
In terms of weekly performance, Bitcoin rose 4.70% and Ethereum gained 4.25%. Other major tokens—including BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid—posted weekly gains of up to 26%, underscoring the strength of the broader market rally. In contrast, Tron slipped 6.15%, making it the only major token to decline over the past seven days.
The surge in cryptocurrency prices is a notable development in the global financial market, with potential implications for investors and traders. As the market continues to evolve, further fluctuations in cryptocurrency prices are likely. The upcoming US CPI release and the Federal Reserve’s decision on interest rates will be closely watched by market participants, and their outcomes may influence the direction of the cryptocurrency market in the coming days.
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