Bitcoin price surged 1.23% above $103,000, boosting overall market sentiment.
Ethereum, XRP, and Solana climb in an altcoin rally as investor optimism spreads to key assets.
Short-term volatility and sentiment have also been influenced by US Supreme Court tariff hearings and ETF outflows.
Crypto prices today show bullish signs as Bitcoin soared past $103,000 and altcoins rallied. The US Supreme Court hearing on tariffs and the renewed rate cut expectation have boosted investor optimism. Growing futures activity and interest from institutional investors are further strengthening the overall bullish sentiment. Here’s why the crypto market is up based on CoinMarketCap data.
Bitcoin price rose to $103,471.41, up 1.23% over the past 24 hours. Its market capitalization stood at above $2.06 trillion with a trading volume of $61.3 billion. Currently, the circulating supply of Bitcoin stands at 19.94 million BTC.
Ethereum price traded at $3,423.42, up 2.29% over the last day. With a market capitalization of $413.2 billion, ETH has a daily trading volume of $37.8 billion. It is the second-largest cryptocurrency with a circulating supply of 120.69 million tokens.
Among other major assets, crypto prices today show XRP performing exceptionally well, up 3.89% to $2.34 with a market cap of $140.8 billion. Solana price climbed 1.84% to $160.47 with an $88.7 billion market cap.
TRON increased 1.01% at $0.2885, while Cardano rose 0.88% to $0.5398. BNB jumped 0.85% to $956.21, while stablecoins Tether and USD Coin held steady at $0.9998. Dogecoin was the only coin to buck the upward trend in crypto prices today. The popular meme coin dipped 0.16% to $0.1656.
Also Read: Crypto Prices Today: Bitcoin Price at $102,254, Ethereum Drops 10% to $3,347 Amid Selloff
Crypto prices today surged, at least partly in connection to ongoing developments at the US Supreme Court over President Trump's reciprocal tariffs. The Court held hearings on the legality of the tariffs following some setbacks that the administration experienced in the lower courts.
According to a Polymarket prediction poll with over $542,800 in assets, traders think that the Court is likely to rule against Trump. The odds of Trump winning the case have fallen to 20% from 43% earlier in the week.
If the Supreme Court decides against these tariffs, it could compel the administration to lessen trade restrictions, which in turn would be a tool of inflation reduction. Lower inflation usually heightens the probability of rate cuts by the Federal Reserve, which would be a good environment for cryptocurrencies. Historically, digital assets have fared well when the Fed has been cutting rates.
However, the administration still has other options to impose tariffs, including using Section 301, which allows tariff implementation in response to unfair trade practices by foreign governments.
The rally in crypto prices today is also supported by growing leverage in the market. According to data from CoinGlass, futures open interest increased by 2.13% to over $143 billion.
A higher open interest is usually a bullish indication of more liquidity and trader participation in the crypto market. Current levels, however, are well below their peaks from several months ago. The figure has fallen since last month's major liquidation event, which cost traders over $1.6 million and wiped out $20 billion in one day.
Bitcoin and Ethereum ETFs extended their run of outflows, with investors pulling $255 million in a single day. US Bitcoin ETFs posted a net outflow total of $137 million as IBIT withdrawals hit $375.5 million, though ARKB and FBTC saw inflows.
Ethereum products saw continued pressure, posting net outflows of $118.5 million, marking the sixth straight trading day of redemptions. BlackRock's ETHA saw $146.6 million leave during this time frame.
By contrast, Solana ETFs managed to log a net inflow of $9.7 million in their seventh consecutive day of inflows, thanks to Bitwise's BSOL.
The XRP price received further impetus from major crypto news related to Ripple Labs. It became known that the company signed deals with Citadel and Fortress Capital, which took a stake in Ripple Labs, estimating its valuation at $40 billion.
Also this week, Ripple announced a partnership with Mastercard, WebBank, and Gemini to test RLUSD stablecoin settlement on the XRP Ledger. The idea is to settle fiat card payments using blockchain, another significant step toward mainstream adoption. It's one of the few examples of a regulated US bank testing stablecoin settlement on a public blockchain.
Crypto prices today were going up at press time. However, investors should not get too enthused regarding the potential risks at hand. Some analysts warn that the current rally could be a dead-cat bounce, a brief price increase before the downtrend resumes. Market participants should monitor Supreme Court developments, ETF flows, and broader economic indicators before making investment decisions.
1. Why is Bitcoin's price rising today?
Bitcoin's surge above $103,000 is largely driven by market optimism tied to US tariff discussions and expectations of potential Federal Reserve rate cuts. Lower inflation prospects often boost demand for risk assets like crypto.
2. How are Ethereum and other altcoins performing?
Ethereum was up 2.29% at $3,423.42, while major altcoins gained. The broad rally reflects the rising investor confidence in blockchain innovation and utility-focused crypto projects.
3. Where does the Supreme Court tariff hearing come into play within this rally?
The review of US tariff policies by the Supreme Court has affected trader sentiment. With the easing of tariffs, inflation could fall, raising expectations for rate cuts amidst conditions traditionally favorable for digital currencies.
4. Why did Dogecoin price fall today?
While the price of other cryptocurrencies went up, DOGE fell. DOGE lost 0.16% in value, showing its higher volatility and retail sentiment. While the majors made gains on the back of institutional momentum, DOGE moves in tandem with social media-driven trading flows.
5. Is this crypto rally sustainable in the long run?
While the current momentum seems promising, experts caution it could be a short-term bounce. Whether long-term growth materializes will depend on broad-based macroeconomic stability, sustained ETF inflows, and further technological improvements on various blockchains.
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