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Bitcoin traded above $100,000 for the first time in three months, buoyed by investor optimism after US Federal Reserve kept rates unchanged.
Bitcoin price rose above the $100,000 mark on Thursday, hitting a fresh three-month high as investor optimism grew after the US Federal Reserve kept interest rates unchanged.
At press time, BTCUSD was trading at the $100,800 level, showing about a 4% price appreciation in 24 hours. Ethereum also saw further gains. In the last 24 hours, ETHUSD, the second-largest crypto asset, showed about 13% price appreciation, trading at $2,044 at the time of writing.
Some crypto analysts linked Bitcoin’s latest bullish action to a potential trade deal between the US and the UK, which Trump hinted at in a Truth Social post on May 7.
The rally has seen the global crypto market cap of all cryptocurrencies reach $3.16 trillion, a 5.70% increase over the last day’s volume. The total crypto market volume over the last 24 hours is at $131.9 billion, according to data obtained from CoinMarketCap.com, which shows a 55.44% increase.
The total volume in DeFi is currently at $23.24 billion, which is 17.62% of the total crypto market 24-hour volume. The volume of all stable coins is at $121.14 billion, which is 91.85% of the total crypto market 24-hour volume.
On Wednesday, major digital assets were mixed with Bitcoin (BTC-USD) topping the $96,000 level.
The CoinDesk Market Index, which tracks dozens of digital assets including Bitcoin, rose 1.1% in the past 24 hours. The Nasdaq 100 rose 0.3% in late trading, the S&P 500 climbed 0.5%, and the Dow Jones Industrial Average increased 0.7%.
Bitcoin was up 1.2% at $96,292, according to CoinMarketCap data. The most popular cryptocurrency’s 24-hour trading volume surged 71.3% to $40.64 billion.
Ethereum (ETH-USD), the second-largest digital asset by market value, was up 0.3% to $1,795.
XRP (XRP-USD) lost 1.3%, BNB (BNB-USD) dipped 0.1%, and Solana (SOL-USD) rose 0.6%. Dogecoin (DOGE-USD) rose 0.4%, and Cardano (ADA-USD) fell 0.8%.
The US 10-year Treasury yield stood at 4.269% at 3 p.m. ET Wednesday, down from 4.306% Tuesday, while the five-year yield fell to 3.870% from 3.897%.
The total market value of the cryptocurrency industry rose 0.9% in the past 24 hours to $2.98 trillion, with trading volume up 30.9% to $88.76 billion.
The price of the largest cryptocurrency sank to nearly $74,000 in early April as President Trump’s “Liberation Day” tariffs sparked a deep selloff in global markets and prompted skittish investors to dial back on risky assets.
Despite crypto proponents’ arguments that bitcoin is a form of “digital gold,” it has frequently moved in line with the S&P 500 during the recent weeks of tariff-induced market volatility. #Bitcoin Tops $100,000 on Fresh Optimism#
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