The crypto market is riding a fresh wave of bullish momentum as Bitcoin flirted with the $104,000 mark early Saturday, marking another milestone in its steady ascent. Meanwhile, leading altcoins like Ethereum (ETH), Ripple’s XRP, Binance Coin (BNB), and Solana (SOL) are also clocking impressive intraday gains ranging from 2% to 6%.
🔥 Market Snapshot – Key Highlights:
- Bitcoin briefly touches $104K, extending weekly gains close to 8%.
- Ethereum, XRP, BNB, and SOL see 2-6% price hikes amid strong buying pressure.
- Meme coins DOGE, SHIB, and PEPE rally hard with 9%-13% gains.
- Total crypto market cap swells to $3.27 trillion, fueled by steady macro tailwinds.
🚀 Bitcoin’s Ascent: $104K in Sight
Bitcoin has continued its bullish streak, pushing briefly past $104,000 during Asian trading hours before settling around $103,000. The flagship cryptocurrency now boasts a weekly gain close to 8%, supported by a stable macroeconomic backdrop and solid investor confidence.
According to Coinglass, Bitcoin futures open interest (OI) remains elevated at around $66 billion, and its market dominance stands at 62.7%, per CoinMarketCap. However, signs are emerging that this dominance may have peaked, hinting at a possible rotation into altcoins—a signal many analysts interpret as the start of a stronger altcoin season.
📈 Altcoins Ride the Wave
Ethereum (ETH)
Ethereum is gaining serious ground, up over 5% intraday and trading near $2,363. Over the past week, ETH has jumped nearly 30%, boosted by growing optimism over the successful completion of its Pectra upgrade and whale accumulation. Reports indicate Trump’s WLFI entity acquired around $3.5 million worth of ETH, helping fuel demand. ETH futures OI climbed 1.5% to $27.13 billion, underscoring heightened investor interest.
XRP (Ripple)
XRP has also joined the rally, gaining 3% today and now trading at $2.37. Weekly gains have reached almost 8%, with futures OI increasing by 11% to $4.11 billion—a strong signal of growing bullish sentiment around Ripple.
Binance Coin (BNB)
BNB continues to show strength, rising 5% today to hit $661.27, bringing its weekly performance to nearly 10%. Futures open interest has risen close to 4%, reaching $829.83 million.
Solana (SOL)
Solana is one of today’s top-performing layer-1 altcoins, with a weekly surge of 16% and a 5% gain on the day. SOL is currently trading at $171, giving it a market cap of approximately $88.96 billion.
🐶 Meme Coins Take Off
The meme coin sector wasn’t left behind in today’s rally:
- Dogecoin (DOGE) exploded by over 13%, reaching $0.2234.
- Shiba Inu (SHIB) surged 9%, now priced at $0.00001585.
- Pepe (PEPE) soared 13%, hitting $0.00001280.
These playful yet potent assets are proving once again that in crypto, community-driven momentum can rival even the most sophisticated tech narratives.
🏦 Macro Landscape: Rates & Trade War Relief
The bullish momentum appears closely tied to macroeconomic developments. The U.S. Federal Reserve held interest rates steady at 4.25%-4.50%, a move that aligns with market expectations. While the Fed’s tone was cautious, the decision has eased immediate rate-hike fears, giving crypto assets room to rally.
In parallel, geopolitical tension appears to be simmering down. Reports suggest former President Donald Trump may cut tariffs on Chinese imports by 80%, while also pushing for lower trade barriers with the UK. These developments have lessened the market’s risk aversion, prompting renewed appetite for digital assets.
📊 Conclusion
With Bitcoin nearing six-figure territory and altcoins showing renewed strength, the crypto market appears to be entering a bullish phase, bolstered by favorable macro trends and increased institutional interest. Whether you’re a BTC maximalist or an altcoin enthusiast, today’s movements hint that we could be witnessing the early stages of a broader market rally.
