The cryptocurrency market capitalization remained above $3.1 trillion on Thursday as global financial markets reacted to bullish macroeconomic indicators.
Key Highlights
- Bitcoin price breached the $100,000 resistance level, peaking at $101,525.
- Ethereum-led rally: ETH, PEPE, and Chainlink surged with rising trading volumes.
- Trump's UK trade deal announcement fueled market optimism.
- SUI, Virtuals Protocol, and TRUMP token outperformed due to unique catalysts.
Why Is the Crypto Market Rising Today?
President Donald Trump announced a trade agreement with the UK on Thursday morning. The market had already priced in this move, with top assets like BTC and ETH breaking key resistance levels ($100,000 and $2,000, respectively).
👉 Read more about market reactions
Trump’s post hinted at additional trade deals in progress, coupled with China’s confirmation of tariff negotiations. This has spurred expectations of further capital inflows into crypto during US trading hours.
Bitcoin Market Update
Bitcoin tested the $100,000 resistance on Thursday, reaching $101,525 (per TradingView data). Notably, BTC’s 24-hour trading volume doubled from $35 billion to $76 billion, signaling sustained bullish momentum.
Altcoin Market Update: Ethereum Ecosystem Thrives Post-Pectra Upgrade
Investors are flocking to Ethereum and its ecosystem tokens due to converging bullish factors:
- Successful Pectra upgrade (executed Wednesday).
- Favorable macro conditions (Fed rate pause, trade deal optimism).
- Temporary ETH withdrawal pauses on exchanges like Coinbase reduced sell pressure, amplifying ETH’s 13% daily gain to $2,002.
Top Ethereum-based gainers:
- PEPE: +17% ($0.00006) – Meme coin resurgence.
- Chainlink (LINK): +9.4% ($15) – Cross-chain integration hype.
- Virtuals Protocol (VIRTUAL): +21% ($1.62) – DeFi infrastructure speculation.
Today’s Chart: Ethereum Ecosystem Volume Spikes 30%
Ethereum’s ecosystem市值 surged to $53.5 billion, with trading volume up 30% in 24 hours. This aligns with growing interest in Pectra-upgraded projects.
Other L1 Altcoin Performers:
- XRP: +4.7% ($2.23) – Momentum despite legal hurdles.
- Solana (SOL): +8% ($157.76) – Network activity offsets meme coin volatility.
Crypto News Briefs
1. OCC Greenlights Banks for Crypto Trading
The Office of the Comptroller of Currency (OCC) now permits national banks to trade cryptocurrencies for clients, including outsourced custody services. Risk management frameworks are mandatory.
2. Ethereum Foundation Allocates $32M for Q1 2025
Grants will fund developer tools, zero-knowledge research, and core infrastructure to bolster Ethereum’s ecosystem.
FAQ
Q: Why did Bitcoin surpass $100,000?
A: Macro optimism (Trump’s trade deals) and institutional inflows drove BTC past key resistance.
Q: Which altcoins benefited most from Ethereum’s upgrade?
A: PEPE, Chainlink, and Virtuals Protocol saw double-digit gains due to ecosystem demand.
Q: Is the crypto rally sustainable?
A: Rising volumes and institutional adoption (e.g., OCC ruling) suggest continued momentum, but volatility persists.
Global crypto market cap: $3.21T | 24-hour volume: $173.2B
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