- The cryptocurrency market has witnessed a sudden and strong rebound today, with Bitcoin rising by 2.07% and surpassing the $110,000 level for the first time in nearly a month, in a move that could signify the beginning of a major upward wave in the digital market.

Bitcoin was not the only one on the rise, as alternative currencies followed with sharp jumps, most notably Fartcoin which surged by 15.94%, Dogewifhat at 14.01%, and Celestia at 11.93%, which pushed the total market capitalization of cryptocurrencies to $3.4 trillion, an increase of 3%. Daily trading volume also rose by more than 30%, exceeding $133 billion.

This positive momentum is linked to increasing expectations of passing the "Great Trump" bill in the U.S. House of Representatives, after it was approved in the Senate. The bill includes tax exemptions and financial incentives expected to boost the economy and drive investors toward hedge assets like Bitcoin.

The market is also receiving support from strong expectations of interest rate cuts by the Federal Reserve in the coming months. Goldman Sachs (NYSE:GS) has predicted a gradual reduction starting in September.

At the same time, the market is witnessing widespread institutional entry, with Bitcoin exchange-traded funds recording inflows nearing $50 billion, while Ethereum funds have surpassed the $4.25 billion mark.

#NFPWatch ##Write2Earn #trumpvsmuskfight #StrategyBTCPurchase #trumpvsmuskfight $BTC $ETH $BNB