Overview:
The global cryptocurrency market is on the rise, with the total market cap reaching $3.23 trillion, up 1.08% in the last 24 hours. Despite a drop in trading volume by 8.95% to $96.4 billion, investor sentiment remains bullish, driven by key developments in ETFs, Federal Reserve policies, and market liquidations.
Key Drivers Behind Today’s Crypto Rally
🔹 Cardano ETF & XRP ETF Drives Institutional Interest
Grayscale, for instance, filed for a spot Cardano ETF via NYSE Arca, which expanded institutional investment into Bitcoin and Ethereum. The same led to a 13% upsurge for ADA’s price to $0.79. Other firms, including Virtune and 21Shares, have also launched ADA-based products, improving confidence in Cardano’s future.
Meanwhile, XRP remains a key focus due to its ongoing legal battle with the SEC. Analyst James Seyffart estimates a 65% chance of an XRP ETF approval by 2025, despite Ripple facing fines of $125 million in August 2024. Many believe that a settlement ahead of ETF approval would push XRP prices higher.
🔹 Federal Reserve & Powell’s Speech Impacting Market Sentiment
Investors are closely watching Federal Reserve Chair Jerome Powell’s speech for potential interest rate decisions and liquidity changes.
📈 Bitcoin (BTC) has increased by 1.1% to $98,209
📈 Ethereum (ETH) is up 2.4% to $2,704.37
Analysts expect BTC to range between $90K-$108K, with $100K acting as psychological resistance.
🔹 Fear & Greed Index Signals Market Stabilization
The Fear & Greed Index has jumped from 43 (Fear) to 47 (Neutral), indicating a sentiment shift towards stability.
📊 Last week, this index was in Greed at 72, showing how rapidly investor emotions can change.
🔹 Market Liquidations & Trading Activity
In the last 24 hours:
🔹 97,218 traders were liquidated
🔹 Total liquidations reached $151.93 million
🔹 The largest single liquidation was $1.87 million on Binance’s BTC/USDT pair
Conclusion
The uptrend in the crypto market is being driven by a combination of ETF approvals, legal updates, Federal Reserve policies, and improved sentiment.
🔹 While Bitcoin and Ethereum continue their steady growth, altcoins like Cardano and XRP are gaining institutional traction, strengthening the overall outlook. 🚀
Also Check:
- Ripple News Today – XRP Hits New Heights, Overcoming Controversies and Market Growth
- North Carolina Proposes Bill to Invest State Funds in Bitcoin ETPs
- Brazil’s B3 Stock Exchange Expands with Ethereum & Solana Futures
- XNO Price Surge and Forecast: Can Nano Coin Beat Bitcoin?
- Altcoin ETF Race: Which Crypto ETF Will Debut First?
- Robert Kiyosaki’s 2025 Market Crash Warning: Is This the Right Time to Invest?
- $TRUMP Coin Frenzy: $100M in Fees—Who Really Profited?