The cryptocurrency market gained strong momentum in the first half of the week, providing new inflows to the total market value of approximately $110 billion in 24 hours. Bitcoin’s return to the $95,000 range after two months turned the general direction of the market upward. The rise was not limited to just the largest cryptocurrency. Sharp price movements were also observed in Ethereum and large-cap altcoins. This table, seen in cryptocurrency exchanges traded on a global scale, revealed that macroeconomic data and political statements directly affect market perception.
Bitcoin’s Peak in the Last Two Months
Bitcoin price followed a sideways trend below the $91,000 level throughout the weekend, then turned upward at the beginning of the week. Although the $92,000 region was tested several times on Monday, the rise, which was not permanent, gained strength with the US consumer inflation data released on Tuesday. Inflation figures that were below expectations increased the appetite for risky assets, allowing Bitcoin to regain momentum.
Following the macro data, the speech made by US President Donald Trump, which had wide repercussions in the markets, stood out as another factor that accelerated the rise. Bitcoin, which recorded a value increase of approximately $ 4,000 within hours, reached the highest level of the last two months by testing $ 96,500 on many exchanges. Although the price later retreated slightly, it stabilized around $95,000.
With this move, Bitcoin’s market value approached 1.9 trillion dollars, while its share in the total crypto market remained stable at 56.9 percent. The fact that the largest cryptocurrency maintained this weight indicated that the rise was supported by a broad-based increase in demand, not just speculative.
Strong Rally in Altcoins
The rise, which started under the leadership of Bitcoin, quickly spread to the altcoin market. Ethereum rose above $3,300, a jump of more than 6 percent, after falling below $3,100 a few days ago. A similar picture occurred in other large-volume altcoins. While XRP approached $2.15, BNB rose to $940 and Solana rose to $144.
The activity in medium-sized projects has reached more remarkable levels. Cardano’s coin ADA gained over 8 percent to $0.42. While Stellar reached $0.24 with an increase of 9 percent, Chainlink and Dogecoin increased by 6-7 percent. These pricing showed that investors’ risk appetite has increased significantly.
Some smaller-cap assets saw double-digit gains. While IP coin stood out with 28 percent, PEPE and ICP increased by 14 percent each. Increases of over 10 percent were also observed in projects such as PUMP, ENA and ARB. As a result of all these movements, the total value of the global cryptocurrency market increased to 3.33 trillion dollars.
