A new wave of optimism is sweeping across the entire cryptocurrency market, as major cryptocurrencies like Bitcoin, Ethereum, and Ripple have all experienced significant growth yesterday. But what are the reasons driving the growth of the crypto market?

According to CoinMarketCap data, the cryptocurrency market is making a significant rebound from the recent market crash. As of the time of writing, the global market capitalization stands at $3.36 trillion, up nearly 3% in the past 24 hours.

Bitcoin's price earlier broke the psychological level of $110,000, reaching an intraday high of $110,550. Bitcoin pulled back to about $109,270 on July 4.

Meanwhile, Ethereum's price also saw a 6% increase yesterday, with a 24-hour trading volume reaching $25.21 billion, up 54%. XRP has also shown a positive trend, with its price breaking above $2.3.

Ripple witnessed a significant growth of 3.7% in the past day. Other major tokens like BNB and Solana also recorded significant increases of 2.1% and 4.1%, respectively.

The well-known meme coin Dogecoin surged by a substantial 8%, and Cardano's price also rose by 8.89%. The current surge in the cryptocurrency market is driven by a combination of factors that have rekindled confidence between institutional and retail investors.