Bitcoin has continued to lead the market rally as altcoins and meme coins surge back to previous highs, driving positive sentiments across the broad cryptocurrency market.
These bullish price trends have seen the broad crypto market capitalization surge to $2.38 trillion, an increase of 3.13% over the past day.
According to a recent report, the adoption of cryptocurrencies has relatively increased in the past few days as the crypto market witnessed notable spikes in the inflow of digital assets following significant buying activities last week. This massive buying activity, which has sparked high bullish sentiments across the market, has seen the overall market volume increase significantly by 43.30% to $99.55 billion over the last day.
Furthermore, the world’s largest cryptocurrency, Bitcoin, accounts for 53.8% of the market capitalization. Imitating its price movement, social sentiments on Bitcoin are on the rise as LunarCrush metrics reveal that bullish sentiment votes on Bitcoin have surged by more than 12%.
Today’s positive price performance saw Bitcoin resume its bullish trajectory, rebounding back to its one-month high. There are speculations that the rapid surge in the price of Bitcoin was fuelled by Trump’s assassination incident, which has further fortified investors’ confidence in crypto investments.
As of this writing, Bitcoin is trading at $65,188, an increase of 3.42% over the past 24 hours. The cryptocurrency saw a decent price correction during its last intraday session as its price plunged to a low of $62,612 during the early hours of today.
Top altcoins and popular meme coins have continued to mimic this positive price movement, as Ethereum and SOL saw notable daily gains of more than 3.78% and 5.25%, respectively. As such, Ethereum has rebounded to $3494 and SOL to $161 at press time.
XRP has emerged as one of today’s top gainers as the cryptocurrency has increased by 11.73% over the last day. Hence, XRP is seen trading at $0.586 as of press time.
Notably, cryptocurrency has surged significantly by 93.84% in volume, suggesting a massive ignition of bullish sentiments among its investors.
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