Crypto Price Today: Bitcoin Surpasses $95,000, XRP And Stellar Surge 21%

Bitcoin has surged past the $95,000 mark, reaching $95,560 as of 11:07 AM IST today, marking an increase of 2%. It briefly dipped to $92,000 earlier but quickly rebounded.

Major altcoins, including XRP, Solana, and Stellar, have experienced significant price jumps, with some tokens rising as much as 21% in the last 24 hours.

At the same time, Ethereum saw a 1.9% increase, trading at $3,409. XRP saw an impressive 12.4% rise, while Solana gained 8%, Cardano increased by 10%, and Stellar jumped 21%. Despite a slight drop in trading volume (down by 9.15% to $99.6 billion), the global crypto market cap grew by 2.9%, reaching $3.36 trillion.

Experts indicate that the positive market momentum is likely to continue. Edul Patel, CEO of Mudrex, attributed this surge to renewed interest in crypto, with Bitcoin trading near the $95,000 mark and tokens like XRP, Chainlink, and Cardano benefiting from increased buying activity. Additionally, institutional inflows into Ethereum-based ETFs were reported to be significant, with $36 million in net inflows for the ETH ETF. As U.S. economic activity continues to recover, expectations of further market movements are high.

However, caution is advised, as long-term holders may decide to sell, contributing to market fluctuations. CoinSwitch’s market analysis pointed out that Bitcoin’s range-bound behavior between $92,300 and $96,000 is facing resistance from diminishing retail demand. Despite this, institutional activity is expected to provide some market stability in the coming weeks.

Market Insights:

– Bitcoin Price: $95,560 (+2%).

– Ethereum Price: $3,409 (+1.9%).

– XRP: +12.4%.

– Solana: +8%.

– Stellar: +21%.

With stablecoins making up 91.68% of the total 24-hour crypto volume, Bitcoin’s market cap reached $1.89 trillion, though its 24-hour volume has dropped by 28.5%.

Note: The views and opinions expressed are those of the experts and do not represent the views of The Economic Times. Always conduct your own research before making any investment decisions.

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