Top News

Cryptocurrency Market Today: Following the relaxation of trade tensions following the US-China agreement to suspend reciprocal tariff actions for the next ninety days, the cryptocurrency market surged by more than three percent in the past day, with a surge in heavyweights like as Bitcoin, Ethereum, Solana, and BNB.

The cryptocurrency market capitalization was $3.36 trillion at the time of writing, up 3.21% in a single day. In the meanwhile, Bitcoin and Ethereum contributed 61.2% and 9.5%, respectively, to the $149.22 billion 24-hour cryptocurrency turnover.

Bitcoin is still trading over the $100,000 mark.

On Wednesday, Bitcoin, the most valuable cryptocurrency in the world, crossed the $100,000 mark for the fifth day in a row. When last checked, the price of Bitcoin was up 1.70% over the previous day, reaching $103,492.92. The cryptocurrency increased by more than 7% in the last seven days.

Other Important Cryptocurrencies

Today’s Ethereum Price

Due to favorable global geopolitical situations, the market has been on a bullish run over the previous several days. It also had a huge increase of more than 8% on the previous day. When last viewed, Bitcoin was up 8.6% for the day at $2,637.77. The price of Ethereum has increased by more than 44% during the last seven trading sessions.

Today’s BNB Price

The value of BNB rose 2.49% to $659.61 during the last day. The cryptocurrency increased by about 10% in only seven days, continuing its ten-season high. The price of BNB soars by more than 12% in a month.

Solana

Over the last day, the price of Solana has increased by more than 7%. The cryptocurrency was up 7.37% throughout the day at $180.82 at the time of writing. The value of Solana saw a respectable 23% increase during the previous seven trading sessions. In a month, it increased by more than 36%.

Will the Rally Go On?

According to Vikram Subburaj, CEO of Giottus Crypto Platform, “The cryptocurrency market has maintained its risk-on bias in the wake of the US-China deal and soft US CPI data.” With good support above $100,000, Bitcoin is stabilizing over $103,000. Neutral financing rates and strong trade volumes are the cornerstones of its climb. With the Crypto Fear & Greed Index at 73, the market is still in “Greed” zone. As Bitcoin tries to push towards new all-time highs, there can be a brief correction that follows.

“A sharp reversal among altcoins is shown by the large decline in Bitcoin dominance to 6.2%. As Solana and Chainlink surged by 6%, Ethereum recovered with a daily gain of 8%,” Vikram said.

“BTC is now stabilizing around the $103,700 mark after reaching $104,800 yesterday and encountering resistance. Bitcoin has maintained its optimistic feeling by holding over the crucial $100K milestone for the fifth day in a row. Regaining the $3.5 trillion threshold, the global cryptocurrency market capitalization increased by 2%. While AVAX gained 9.7% and SOL climbed 6.5%, ETH maintained its impressive run, rising 8.2%, according to CoinSwitch Markets Desk.

On the macro front, U.S. inflation continued to decline in April, lowering to 2.3% annually, which was below forecasts and the lowest since February 2021. Markets reacted favorably: the Dow fell 0.6%, the S&P 500 gained 0.7%, and the Nasdaq Composite increased 1.6%. According to the CoinsSwitch Market Desk, Tether’s USDT surpassed the $150 billion market capitalization milestone, confirming its supremacy with a 61% market share in stablecoins.