Cryptocurrency prices surged strongly in the past few hours following the release of the US Federal Reserve's minutes, which included some hints about the majority of Fed members' inclination to cut rates soon in 2025.
The price of Bitcoin rose above $110,000 and then quickly jumped above $111.6, rising by 2.7%, and then surged to exceed $112,000, reaching a historic peak.
#Write2Earn Ethereum also rose by 5.9% to $2,756 per token. Ripple rose by 4.8% and Solana by 4.5%.
Bitcoin (BTC) recently broke out of its tight trading range during the afternoon hours of Wednesday in the United States, threatening to surpass its record high set in May at $112,000. This move came amid a broader rise in the cryptocurrency market, which also saw Ethereum (ETH) rise by 6% to $2,760, its highest level in a month. Bitcoin itself advanced by 2.4% to $111,400 at the time of this report.
Examining the stocks of companies linked to cryptocurrencies, MicroStrategy (MSTR) saw a rise of 4.4%, reaching $414, just a few dollars away from its highest level in 2025 (although it is still well below its record high set late last year at $543). Coinbase (NASDAQ:COIN) rose by 5%. Shares of Bitcoin mining companies MARA Holdings (MARA) and Riot Platforms (RIOT) rose by about 6%.
However, market observers indicated that the accumulation is slowing.
Calmness can create a bullish setup.
In one report, "Cryptocurrencies seem very calm, while Bitcoin is ready to move." Morris explained that Bitcoin's volatility has steadily decreased, a pattern that historically precedes significant bullish movements. He said, "The setup for the next move looks good. As I always say, quiet bulls are the best." Joel Kruger, a market strategy expert at LMAX Group, pointed to Ethereum's strength above key technical support levels and increasing demand from institutions focused on long-term buying, betting on its future role in settlement infrastructure and asset tokenization.