Bitcoin has soared past $100,000 as President Trump announces a trade deal with the UK, pushing the crypto market valuation over $3.1 trillion. Ethereum and altcoins like PEPE and Chainlink are seeing significant price increases, contributing to a bullish market atmosphere. With robust trading volumes and new investments rolling in, sentiment seems ripe for further growth, hinting at a possible altseason ahead.
In a surprising turn for the cryptocurrency market, Bitcoin has surged to an impressive $100,000 as of Thursday morning. This explosive growth comes on the heels of U.S. President Donald Trump announcing a new trade deal with the United Kingdom—one that’s sparked enthusiasm across global financial markets. Current reports put the total valuation of the cryptocurrency sector at a staggering $3.1 trillion, fueled by this bullish atmosphere.
Trump’s announcement, which hinted at potential future trade contracts, bolstered optimism among investors. With Bitcoin (BTC) and Ethereum (ETH) breaking key resistance levels, it’s clear that the market holds a newfound excitement. A phrase from one market analyst captured the moment’s essence well: “This is a pivotal point for cryptocurrency assets as geopolitical developments unfold.”
For Bitcoin specifically, this leap feels historic. As per TradingView data, BTC tested the $100,000 mark for the first time since February, hitting a record peak of $101,525. This indicates not only confidence in the asset’s trajectory but also a strengthening belief among day traders. Indeed, BTC’s trading volume surged, more than doubling to hit $76 billion.
The altcoin market isn’t lagging either. Ethereum and its ecosystem are raking in investor interest. The recent Pectra upgrade successfully boosted ETH prices significantly. Pair that with Donald Trump’s trade news and you’ve got a perfect storm of favorable conditions. Ethereum saw a robust 13% daily gain, up to $2,002.25, which outstripped Bitcoin’s own growth in that timeframe.
Trading volumes for the Ethereum ecosystem have also jumped by an impressive 30% in the past 24 hours. This is contributing to a surge in interest in Ethereum’s host of tokens, including notable performers like PEPE, which climbed 17%, and Chainlink, which rose by about 9.4% as well, influenced by narratives tied to Trump’s market presence.
Digging deeper into the landscape, various projects like Virtuals Protocol and the official Trump token are also capturing attention. In fact, Virtuals Protocol’s tokens saw a spike, rising over 21% in its price, as speculative trading flows kicked in. This goes to show that market sentiment is geared towards the thrill of emerging DeFi tech.
It’s worth noting that while some cryptocurrencies are fluttering on the wings of hype, others are holding steady despite facing challenges. Ripple (XRP) rose 4.7% while still navigating regulatory storms, and Cardano (ADA) saw a nearly 8.1% increase as optimism within layer-1 investments persists.
Meanwhile, Dogecoin (DOGE) seems to have gotten a second wind with an 8.3% rise, thanks largely to social media buzz. Solana (SOL) climbed 8% too, showcasing resilience amid speculative volatility.
Altogether, the global cryptocurrency market now stands at around $3.21 trillion with 24-hour volumes pushing $173.2 billion. If Bitcoin can maintain its position, we may just be on the cusp of a broader altcoin season, especially if risk sentiment continues to improve.
On another note, the Office of the Comptroller of the Currency (OCC) has made headlines by giving national banks the green light to trade cryptocurrencies for customers, emphasizing a structured risk-management approach.
The Ethereum Foundation, not to be left behind, is also taking bold steps with a hefty $32 million in grants to energize its ecosystem for the first quarter of 2025. These funds are slated for community growth, developer tools, and further breakthroughs in cryptographic technology.
It’s a whirlwind of activity in the cryptocurrency world, infused with market changes driven by both political and technological shifts. As things develop, investors everywhere will likely remain glued to their screens, anticipating which way the winds will blow next.
In summary, the cryptocurrency market is experiencing a surge that has pushed Bitcoin past the $100,000 mark due to optimistic macro factors, primarily stemming from a new trade deal between the U.S. and the U.K. Ethereum, along with several other altcoins, are thriving too amidst rumors of bullish market trends. As capital continues to pour in, the landscape looks promising for altseason to take shape, with potential for dramatic shifts in the near future.
Original Source: www.fxstreet.com