Bitcoin jumped 3.49% with a market cap of over $2.29 trillion on strong buying pressure.
Ethereum gained 6.96%, while Solana soared 5.77%, indicating renewed investor optimism.
Investor expectations of Fed rate cuts and better US-China ties are why the crypto market is up today.
Crypto prices today are on an uptrend, led by Bitcoin’s surge past $115,000 and strong gains across major altcoins. Positive inflation data, hopes of Federal Reserve rate cuts, and easing global trade tensions have fueled investor optimism. Ethereum, Solana, and Dogecoin are among the top performers, signaling renewed bullish sentiment. Let’s see why the crypto market is up in detail based on CoinMarketCap data.
Bitcoin price was at $115,307.43, up by 3.49% over the past 24 hours. It has a market capitalization of $2.29 trillion, with a trading volume of $47.87 billion. As of now, 19.94 million BTC are in circulation out of the total supply of 415,450 coins. Bitcoin was trading above the $115,000 level, although technical indicators have shown that the price is experiencing resistance at the 100-day moving average.
Ethereum price today soared 6.96% to $4,212.60. There are 120.69 million ETH in existence, and the market cap of the network is $508.45 billion. Its daily trade value has risen to $34.74 billion, which reflects high investor demand.
Solana price was at $204.05, up 5.77% from yesterday. XRP value is higher by 1.42% today at $2.64. Dogecoin (DOGE) surged 6.12% to $0.2075 with a market cap of $31.45 billion. TRON (TRX) soared 2.05% to $0.3008, while Cardano (ADA) rose 5.19% to $0.6842. BNB was at $1,144.05, up by 2.34%, with a market cap of $159.22 billion.
On the other hand, Tether (USDT) was firm at $0.9998 with a market cap of $183.15 billion.
USD Coin (USDC) was holding the peg at $0.9997 with a market cap of $76.27 billion.
Also Read: XRP Price Stalls Despite Ripple’s $1 Billion Buyback: What’s Next?
There are various factors driving today's crypto prices, and good economic data is at the forefront.
The Bureau of Labor Statistics reported a welcome inflation report on Friday that has awakened both stock and cryptocurrency markets. The report indicated that the headline Consumer Price Index increased to 3.0% in September from 2.9% in August. Core inflation, which excludes volatile energy and food prices, fell from 3.1% to 3.0%.
These numbers raised hopes that the Federal Reserve would lower interest rates at this week's meeting. ING Bank's analysts forecast the Fed to cut another rate in December and potentially shut down its quantitative tightening program.
This possibility of easier monetary policy has boosted asset prices everywhere. The stock market also reacted positively, as the Dow Jones, S&P 500, and Nasdaq 100 all reached new highs, which generally sets a bullish climate for crypto prices today.
Another driver propelling crypto prices higher today is President Donald Trump's current Asia tour. Trump had landed in Malaysia on Sunday and was to meet with Chinese President Xi Jinping at the APEC Summit in South Korea.
The prospects for better US-China trade relations have lifted markets. Earlier this month, crypto prices fell when Trump signaled the possibility of a 132% tariff on Chinese goods. Now, the hope of trade talks has unwound some of that negativity.
Major US technology companies will release their quarterly results soon which may impact crypto prices further. Companies like Apple, Microsoft, and Meta Platforms are set to publish their earnings in the upcoming months, which could influence overall market sentiment.
Also Read: How to Stake Ethereum in 2025: A Simple Guide
Crypto prices today showed bullish signals. However, investors should keep an eye on a dead-cat bounce, a short-term rebound before continuing a downtrend. Bitcoin's struggle around the 100-day moving average indicates caution. The US Fed rate decision and the Trump-Xi meeting would be the key drivers in the days ahead.
1. Why did Bitcoin price rise today?
Bitcoin price rally was fueled by favorable inflation data and increasing hopes that the US Federal Reserve could soon slash interest rates. Reduced rates tend to favor investment in risk assets such as cryptocurrencies, thus boosting investor sentiment.
2. What fuelled Ethereum and Solana prices?
Ethereum's 6.96% rise and Solana's 5.77% increase are due to healthy investor inflows, increased DeFi activity, and increasing optimism regarding AI and blockchain adoption in smart contract platforms.
3. What is the impact of the US inflation report on the crypto market?
The recent inflation report indicated steady prices, making Fed rate cuts more likely. This is a good environment for crypto as investors move away from traditional assets to high-growth digital ones.
4. Will crypto prices rise further on the Trump-Xi meeting?
Yes. If the meeting brings about lower trade tensions between China and the US, world risk sentiment would likely improve. Hence, lifting both equities and cryptocurrencies in the short term.
5. Is the crypto rally sustainable in the long run?
Although optimism runs high in markets, analysts warn that Bitcoin's resistance at the 100-day moving average can curtail gains. Momentum will depend on Fed policy actions and world economic stability.
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