Crypto Market Sees Significant Uptick, with 98 of Top 100 Coins Appreciating
The cryptocurrency market has experienced a notable surge, with the total market capitalization increasing by 4.2% to $4.17 trillion. This upward trend is reflected in the fact that 98 of the top 100 coins have seen a rise in value over the past 24 hours. The total trading volume has also seen a significant increase, reaching $215 billion, which is higher than the recent average.
Crypto Winners and Losers
All top 10 coins by market capitalization have seen an increase in value over the past 24 hours. Bitcoin (BTC) has appreciated by 3.7%, currently trading at $118,682. Ethereum (ETH) has seen a 6.3% increase, now trading at $4,399. Dogecoin (DOGE) is the best performer on this list, with a 9.7% increase to $0.2563. Solana (SOL) has also seen a significant rise, increasing by 6.6% to $223.
Among the top 100 coins, seven have seen double-digit increases. Zcash (ZEC) has seen the largest jump, with a 74.2% increase to $147. Provenance Blockchain (HASH) has also seen a significant increase, rising by 14.4% to $0.03926. Only two coins, MemeCore (M) and Figure Heloc (FIGR_HELOC), have seen a decrease in value, dropping by 10.7% and 2.5% respectively.
Market Awaits Conviction for Next Decisive Move
According to Glassnode, Bitcoin has “repeatedly defended the short-term holder cost basis, underscoring its role as a key pivot between bullish continuation and bearish risk.” Long-term holder distribution has also cooled after months of steady selling, and ETF inflows have resumed, providing a stabilizing influence on market structure. Glassnode notes that these dynamics point to “healthier demand-side conditions” and that the market is “awaiting conviction for the next decisive move.”
Bitcoin Price Chart. Source: TradingView
Levels and Events to Watch Next
Bitcoin is currently trading at $118,682, with a potential breakout above $118,000 opening doors for it to test $120,200 and $122,335. Ethereum is trading at $4,399, with a potential move towards $4,500 and $4,750. The crypto market sentiment is increasing within the neutral zone, with the crypto fear and greed index climbing to 51.
Source: CoinMarketCap
Institutional Interest in Bitcoin Continues to Rise
Japanese investment firm Metaplanet has become the fourth-largest BTC holder, with a recent purchase of 5,268 Bitcoin worth $615.6 million. Thailand is also planning to expand its crypto ETF offerings beyond Bitcoin, aiming to include a basket of digital tokens. The Thai SEC is drafting new rules in coordination with other key agencies, with a rollout expected early next year.
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