Bitcoin climbed 2.38% over the past 24 hours to reach $111,155 on Friday, fueled by optimism surrounding an upcoming US-China presidential meeting, which lifted market sentiment amid ongoing trade uncertainties.
As of 10:12 am IST, Ethereum was up by 2.97% in the past 24 hours at $3,958. Other major tokens — including BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid — surged up to 6.87% in the past 24 hours, whereas Tron went down by 2.66% in the same period. Overall, the crypto market capitalisation went up by 2.02% to $3.72 trillion, according to CoinMarketCap.
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According to CoinSwitch Markets Desk, the broader crypto market recorded slight upside as sentiment improved with news of an upcoming US-China presidential meeting added optimism during a period of trade uncertainty, and BTC’s key support stands near $109K and resistance at $111.5K. A breakout above this level could pave the way toward $113K-$114K.
Investors now await today’s US CPI report, where a softer reading could boost crypto sentiment by strengthening expectations of further rate cuts, the CoinSwitch Markets Desk added.
In the past week, Bitcoin has jumped by 2.08% and Ethereum has gone up by 1.04% in the same time period. Among the altcoins, BNB and Tron were down by nearly 1% whereas others witnessed a surge.
Edul Patel, CEO of Mudrex, says that the crypto market is on an upward trend, with the total market cap growing by over 2% ahead of today’s CPI data.
“The news around Trump’s meeting with China’s President Xi has increased the odds of a trade deal, boosting market sentiment. At the same time, expectations around Quantitative Easing by the Fed have also created a favourable environment for crypto. If CPI data comes in softer than expected, Bitcoin could break above the $113,600 resistance, making way for further gains, while support is seen near $107,200,” Patel added.
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The Bitcoin price is recovering as it rises above the pivotal resistance at $110,000, while the rest of the cryptos within the top 10 remain consolidated. Ethereum struggles to reach $3900, while BNB trades below $1200, XRP below $2.5, Dogecoin below $0.2 and Cardano below $0.65. The market capitalisation surged above $3.7 trillion; however, the sentiments continue to remain under fear.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
