Bitcoin has jumped nearly 7% in the last 24 hours, climbing back above the $92,000 mark on Wednesday after bouncing from a recent low of $84,000. The total crypto market capitalisation has also risen by almost 7% to $3.13 trillion. Bitcoin was trading around $92,915, as per the latest update.
Meanwhile, Ethereum went up by over 8% in the past 24 hours to trade at $3,042 level. Among the major altcoins, XRP, BNB, Solana, Tron, Dogecoin, Cardano, and Hyperliquid jumped over 12% in the past 24 hours. The global crypto market capitalisation edged up 16.43% to $3.13 trillion, according to CoinMarketCap.
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Riya Sehgal, Research Analyst, Delta Exchange, said that Bitcoin staged a powerful rebound, surging nearly 7% after the U.S. market opened, and the catalyst came from Vanguard’s reversal of its Bitcoin ETF ban, unlocking new demand through BlackRock’s $IBIT, which saw over $1.8B in trading volume within two hours.
Sehgal adds that BTC printed a $5,000 daily candle — its strongest since May 2025 — lifting the broader crypto market as the total market capitalisation jumped 6.8% to $3.13T, with BTC dominance rising to 59.1%, signalling capital rotation toward majors.
In the past week, Bitcoin and Ethereum jumped 6.84% and 4.03% respectively. Among the major altcoins, XRP, BNB, Solana, Tron, Cardano, and Hyperliquid went up over 4% in the past week, whereas Dogecoin fell 1.54% in the same period.
CoinDCX Research Team stated that the crypto markets gain momentum as the Bitcoin price overcomes bearish pressure and rises above $92,000, recouping all losses. However, the overall market sentiment remains extremely fearful.
“The total spot Bitcoin ETF volume surpassed $5.1 billion, which could be the major reason for the day’s bullish start. Over $360 billion in shorts were liquidated, while more than $160 billion was added to the crypto markets in the past 24 hours. President Trump calls for a rate cut this month, which may fuel the ongoing bullish momentum and bring back BTC price back above $100K,” CoinDCX Research Team added.
Over the last 24 hours, crypto markets traded defensively amid intensifying global macro pressures. BlackRock publicly stating Bitcoin ETFs as its key revenue source is a big push for institutions to steer in that direction. This could fuel more inflows into ETFs, but in a steady, structured form rather than a breakthrough outflow.
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Bitcoin is staging a strong V-shaped rebound as bullish momentum returns to the market. Sentiment improved after the Fed officially ended Quantitative Tightening and injected $13.5 billion through overnight funding, boosting liquidity across short-term markets.
U.S. financial institutions have also ramped up their use of repo facilities, further supporting risk assets. At the same time, Bitcoin exchange reserves have dropped to multiyear lows of 2.19 million BTC, contributing to the buying pressure. Trading near $93,000, BTC now faces resistance at $96,000, with solid support building at $87,800.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
