Bitcoin surged to $120,198 with a market cap nearing $2.4 trillion, signaling renewed bullish sentiment.
Ethereum, Solana, and BNB posted strong gains, with BNB crossing the $1,000 milestone.
The total crypto market cap is back above $4 trillion, supported by institutional buying and liquidity inflows.
Crypto prices today reflect renewed bullish sentiment. Bitcoin has broken through the $120,000 barrier as altcoins followed suit. Stablecoins continued to hold steady. The positive sentiment came from growing institutional buying and favourable regulatory developments worldwide. Let’s see how the crypto prices today performed in detail, based on CoinMarketCap data.
Bitcoin price has surged to $120,198.72, a 1.26% gain over the past 24 hours. The flagship cryptocurrency now has a market cap of $2.4 trillion with daily trading volumes exceeding $65.5 billion. This breakout follows weeks of consolidation, with BTC climbing from $114,000 to over $118,700 before settling at its current level.
The rally follows Bitcoin’s latest oversold conditions on daily charts. Both the Relative Strength Index and sentiment indicators signalled fear before reversing course. Bitcoin whales have been accumulating positions according to on-chain data. Meanwhile, stablecoin reserves have started to flow back into the market.
Technical analysis reveals strengthening momentum across multiple timeframes. The weekly MACD indicator shows diminishing bearish pressure. Meanwhile, monthly charts indicate Bitcoin remains well below the overheated RSI levels typically seen at previous cycle peaks. Analysts suggest that clearing the $118,000 level opens the path toward testing $120,000, with the next major resistance zone anticipated between $132,000 and $135,000.
Ethereum price was at $4,499.89, up 2.83% over the last day. The second-largest cryptocurrency by market cap now stands at $543 billion. XRP price has climbed to $3.02, soaring 2.15%. The digital asset holds a market capitalization of $181 billion with $7.36 billion in daily volume.
Solana price was at $232.03 up by 3.85%. It has a market cap of $126.5 billion and trading volume of $9.07 billion. BNB was trading over the $1,000 threshold at $1,097.99 with a 6.67% surge. Dogecoin is trading at $0.2601, up 2.69%, with a market capitalization of $39.3 billion.
Cardano price has reached $0.8643, gaining 1.33% as it recovers from recent weakness. TRON is holding at $0.3439 with a slight rise of 0.58%, maintaining a $32.5 billion market cap. At the same time, stablecoins Tether and USD Coin are trading near $1 peg with combined market caps reaching over $250 billion.
Also Read: Crypto Prices Today: Bitcoin Price Holds Above $114,000, Ethereum at $4,147, XRP $2.84
The European Central Bank has made significant progress on its central bank digital currency initiative, announcing framework agreements with seven technology partners. Companies, including Feedzai and Giesecke+Devrient, will provide services ranging from fraud detection using artificial intelligence to secure payment information exchange.
The technology partners will develop key components for the Digital Euro Service Platform, including an ‘alias lookup’ feature allowing users to send funds without requiring detailed payment provider information. Giesecke+Devrient is also handling the engineering for offline payment capabilities, a critical feature for digital euro adoption.
The cryptocurrency community scrutinized Plasma after its native token XPL plummeted over 50% from its peak. Founder Paul Faecks firmly denied insider selling allegations, stating that all investor and team allocations remain locked for three years with a one-year cliff. ‘No team members have sold any XPL,’ he emphasized.
XPL had spiked to nearly $1.70 following its September 25 mainnet beta launch before dropping to $0.83. Community investigators identified movements of over 600 million XPL tokens from the project's team vault to exchanges, raising questions about time-weighted average price selling strategies. The layer-1 blockchain aims to make stablecoin payments more efficient and cost-effective.
Two Swedish parliament members have proposed that the nation establish a strategic Bitcoin reserve to combat inflation and diversify national holdings. Dennis Dioukarev and David Perez of the Swedish Democrats argued that Sweden should ‘participate in this digital arms race’ as other countries, particularly the United States, move toward creating their own reserves.
The proposal suggests funding the reserve through seized Bitcoin, though the question of which authority would manage the holdings remains undecided. This development adds Sweden to a growing list of nations exploring Bitcoin as a strategic asset.
Also Read: Crypto News Today: BNB Chain Hacked, Ethereum’s Best Q3 Since 2016, Metaplanet Buys $615M BTC, UK $7B Laundering Case
Bitcoin is securing higher support levels as crypto prices today show broad-based strength. Analysts expect the crypto rally to extend through October. However, a short-term pullback may happen as the market consolidates recent gains. Global liquidity conditions and institutional adoption continue supporting the bullish case for cryptocurrencies.
1. Why did the price of Bitcoin shoot over $120,000 today?
Bitcoin went over $120,000 as a combination of solid institutional buying, technically oversold levels, and increasing liquidity injections from stablecoins pushed it there. It marks the beginning of a wider bullish trend in cryptocurrencies.
2. What does Ethereum's performance suggest about the market?
Ethereum's 2.83% increase to $4,499 demonstrates investor faith in its position as the top smart contract platform. Favorable network demand, strong trading volumes, and growing ecosystem support its bullish sentiment.
3. What altcoins have the most pronounced momentum currently?
BNB jumped 6.67% above $1,097, Solana added 3.85% to $232, and XRP bounced back to $3.02. The action indicates investors are flipping profits in Bitcoin into high-growth altcoins for enhanced returns.
4. How big is the crypto market cap, breaking $4 trillion?
Breaking $4 trillion reflects fresh market challenges and international investor interest. The milestone indicates widespread participation between Bitcoin and altcoins, pointing to a solid base for the current rally.
5. What risks should investors monitor despite the bullish rally?
In spite of gains, risks involve regulatory updates, sudden sell-offs, and resistance levels around $132,000-$135,000 for Bitcoin. Pullbacks can occur in the near term, but long-term fundamentals are supportive of expansion.
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.