Key events
• Bitcoin today reached a new all-time high, exceeding $113,000. During the day, the price rose to $113,822, marking the second consecutive record in the last 24 hours. Over the past day, the increase was about 4%, and since the beginning of the year — over 20%.
• Altcoins also showed significant growth. Ethereum rose by more than 5% and is trading above $2,800, Dogecoin added over 5%, and Solana and Cardano grew by 4–6%. Among the day's leaders is the meme coin Pudgy Penguins (PENGU), which increased by 22–28% in a day.
Reasons for the growth
• Expectations of interest rate cuts in the USA. The Federal Reserve (Fed), amid political pressure and statements about possible rate cuts, has created a positive sentiment in the markets. The weakness of the dollar has increased the attractiveness of cryptocurrencies as a safe-haven asset.
• Record inflows into Bitcoin ETFs. Large institutional investors and companies are actively buying Bitcoin through exchange-traded funds (ETFs). In recent weeks, inflows into ETFs have reached $15–50 billion, supporting demand and liquidity.
• Optimism in the market and growing interest in risk assets. The rise in stock indices (e.g., S&P 500) and expectations of strong quarterly reports have intensified the “risk-on” sentiment, which has also supported the crypto market.
• Favoritism towards the crypto industry from authorities. In the USA, the establishment of a strategic Bitcoin reserve has been announced, and there is a more favorable regulatory climate for cryptocurrencies.
• Technical factors. The decrease in Bitcoin's dominance (to 64.5%) indicates a possible beginning of an “altseason,” when altcoins grow faster than Bitcoin.