#marketrebounds
The crypto market is experiencing a rebound today, driven by positive developments in US-China trade talks and growing institutional interest. Here are the key updates.
- *Total Crypto Market Capitalization*: The total crypto market cap has surged by $117 billion to $3.37 trillion, with some sources reporting a higher cap of $3.43 trillion, showing a healthy 4.22% rise in the past 24 hours.
- *Bitcoin Price*: Bitcoin's price has risen 3.5% in the last 24 hours, breaking the $110,000 resistance level, although it pulled back slightly to $109,416. Analysts predict it could soon touch $115,000 or higher.
- *Ethereum Price*: Ethereum is up over 8% this week, trading at $2,699, with strong fundamentals contributing to its rebound.
- *Altcoin Performance*: Altcoins like Solana and Dogecoin have surged 5% and 6.6% respectively, while Sui and Hyperliquid have posted impressive double-digit gains. Fartcoin has rallied 18%, aiming to hold $1.20 support.
The market's rebound is attributed to:
- *US-China Trade Talks*: Resumed trade talks between the US and China have eased global market tensions, boosting investor confidence.
- *Institutional Interest*: Growing institutional interest in cryptocurrencies has also contributed to the market's upward momentum.
- *Technical Signals*: Bitcoin's breakout from a consolidation range and bullish weekly candle formations have fueled the rally.