Crypto Market Update – April 23, 2025
The crypto market is experiencing a significant rebound:
Bitcoin (BTC) surged to $94,147, marking a 6.35% increase in the last 24 hours.
Ethereum (ETH) climbed to $1,797.75, up 9.03%.
XRP reached $2.2422, gaining 5.29%.
The global crypto market capitalization now stands at $2.94 trillion, reflecting a 5.68% rise over the past day .
Key Drivers:
Short Squeeze: A rapid price increase forced traders with short positions to buy back assets, further driving up prices.
Trade War Optimism: Easing tensions in global trade have boosted investor confidence.
Technical Breakout: BTC's movement above the $88K resistance level has triggered bullish momentum .
Stay informed and trade wisely!
