The cryptocurrency market has been experiencing strong momentum today, with Bitcoin (BTC) reaching a new milestone of $102K. This surge is largely attributed to optimism surrounding the upcoming inauguration of Donald Trump and expectations of more favorable regulations for the crypto sector. Bitcoin’s market cap has now hit $2 trillion, reflecting significant investor confidence.
Market Highlights:
Bitcoin (BTC): Trading at $102K, with a 1.5% rise over the last 24 hours. The market cap for BTC reached $2 trillion, while the 24-hour trading volume stood at $152 billion.
Ethereum (ETH): Ethereum has risen by 3% today, with its price standing at $3,368. The Ethereum options expiry today, valued at $639 million, is a key event, and the market is closely watching its potential effects.
XRP: XRP has surged 10% to $3.31, benefiting from positive sentiment, including comments from Ripple CEO Brad Garlinghouse about the potential role of XRP in U.S. crypto reserves.
Solana (SOL): Solana has gained 5%, trading at $212, supported by growing institutional interest and strong market fundamentals.
Noteworthy Gains:
Hedera (HBAR): Up by 20%, trading at $0.386.
Fartcoin (FARTCOIN): Also surged 20%, reaching $1.46.
Crypto Market Cap and Momentum:
The total market cap for all cryptocurrencies has surpassed $3.56 trillion, surpassing Apple’s $3.5 trillion valuation. This marks the crypto market’s continued expansion, with broad participation from both retail and institutional investors.
Meme Coins:
Meme coins are also seeing positive price movements today. Dogecoin (DOGE) rose by 3% to $0.387, while Shiba Inu (SHIB) gained 2% to $0.00002265. Other meme coins like PEPE and BONK are also up by 2-5%.
Overall, the crypto market is maintaining strong momentum, driven by macroeconomic factors like expectations of Fed rate cuts, ongoing enthusiasm for the space, and key events like the ETH options expiry and Trump’s upcoming presidency.
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