The cryptocurrency market has experienced a strong rebound over the past 24 hours, adding approximately $100 billion in value.
As of press time, the total market capitalization stood at $3.7 trillion, up from $3.6 trillion a day earlier, according to data retrieved from CoinMarketCap.
Bitcoin (BTC) led the rally, climbing 2.32% to trade around $109,345, pushing its market capitalization to $2.2 trillion. Ethereum (ETH) followed with a 2.81% increase to $4,001, maintaining its position as the second-largest cryptocurrency with a market value of $482.8 billion.
Other leading assets also posted solid gains. Binance Coin (BNB) advanced 2.66% to $1,124.87, while Solana (SOL) rose 2.09% to $189.73. XRP recorded a 1.57% uptick, changing hands at $2.40.
The renewed bullish momentum has emerged as broader risk sentiment improved after U.S. President Donald Trump confirmed a meeting with China’s Xi Jinping later this month, easing fears of a prolonged trade conflict.
This development lifted both global equities and cryptocurrencies, with Bitcoin’s rebound closely mirroring Nasdaq futures. Notably, crypto’s 30-day correlation with the S&P 500 climbed to 0.78, highlighting a tightening link between digital assets and traditional markets.
While reduced geopolitical tensions have fueled short-term optimism, investors are now turning their attention to the upcoming Malaysia trade talks (Oct. 20-22) and U.S. inflation data, which was delayed due to the government shutdown, for clues on whether the rally can maintain its momentum.
Meanwhile, in the coming week, focus will shift toward institutional inflows through exchange-traded funds (ETFs).
Notably, most Bitcoin funds recorded massive outflows over the past week. If inflows stabilize in the coming days, Bitcoin could gather further momentum and potentially reclaim the $110,000 level.
