Crypto Market Surges as Bitcoin, Ethereum, and XRP Post Strong Gains — What’s Fueling the Rally?
Key Highlights:
- The global crypto market cap has climbed 2.63% to hit $3.39 trillion.
- Bitcoin, Ethereum, and XRP have recorded notable price increases in the last 24 hours.
- Optimism is fueled by expected Fed rate cuts and the momentum behind Trump’s “Big, Beautiful” bill.
The cryptocurrency market is enjoying a significant upswing today, with major assets like Bitcoin (BTC), Ethereum (ETH), and XRP all showing healthy price increases. Data from CoinMarketCap indicates the total market cap has risen to $3.39 trillion, representing a 2.63% gain in just one day.
Top Coins Rally Amid Market Rebound
After recently experiencing a downturn, the market is bouncing back strongly. Bitcoin briefly pushed past the $110,000 mark, reaching an intraday high of $110,550 before slightly retreating to around $109,144.
Ethereum followed suit, rising 6% on the day, despite a slight 0.7% dip over the past month. The asset’s 24-hour trading volume surged by 54%, reaching $25.21 billion.
Meanwhile, XRP jumped above $2.30, gaining 3.7% in the past 24 hours and rising steadily over the week and month as well.
Other major tokens are also on the rise:
- BNB: +2.1%
- Solana: +4.1%
- Dogecoin: +8%
- Cardano: +8.89%
Drivers Behind the Crypto Rally
Several key developments are contributing to the market’s bullish momentum:
Anticipated Federal Reserve Rate Cuts
Hints from Fed Chair Jerome Powell about possible interest rate reductions later this year — including a potential cut at the upcoming July FOMC meeting — have energized both retail and institutional investors. Governor Christopher Waller has echoed this sentiment, suggesting a rate cut as early as next month.
Surging Institutional Bitcoin Investment
Institutional appetite for Bitcoin continues to grow. Nine companies recently added BTC to their reserves, with Anthony Pompliano’s ProCap investing $1 billion to launch ProCap Financial. Standard Chartered has forecasted that Bitcoin could hit $200,000 by Q4 2025 if the trend continues.
Impact of Trump’s Legislative Agenda
Analysts point to Donald Trump’s “Big, Beautiful” bill as a potential catalyst. If the bill passes, it could accelerate the adoption and regulatory clarity around digital assets. A procedural vote already passed in the House, and full approval is expected soon. Trump may sign the bill into law within the next day.
Tariff Adjustments and Trade Deals
Trump’s new trade agreements are also influencing market sentiment. A U.S.–U.K. deal has reduced import tariffs significantly, and a new pact with Vietnam will open its markets to U.S. goods with zero tariffs. These moves signal a broader economic strategy that may indirectly benefit crypto markets by boosting investor confidence.
