Bitcoin Rallies Above $93,000: Institutional Buying and Market Sentiment Drive Surge

Bitcoin surpassed $93,000 amid positive U.S. economic remarks and easing trade tensions, with significant institutional buying and a shift in investor sentiment. Ethereum and other altcoins also saw substantial gains, and the overall cryptocurrency market cap rose markedly. Experts noted the potential for Bitcoin to challenge $100,000 if bullish sentiment continues.

Bitcoin has surpassed $93,000, driven by optimistic comments from U.S. President Trump and a reduction in global tensions. Ethereum also experienced considerable gains, contributing to a general altcoin rally. The surge is attributed to increased institutional investments and significant inflows into Bitcoin spot ETFs, which exceeded $700 million, culminating in over $1 billion for the week.

As of 10:27 AM IST, Bitcoin was priced at $93,447, exhibiting a 6.03% increase. Ethereum rose 13.6% to $1,800, while the overall cryptocurrency market capitalisation increased by 6% to reach $2.92 trillion. Edul Patel, CEO of Mudrex, highlighted the breakout in the cryptocurrency market, as major altcoins such as Ethereum, Solana, and XRP saw gains of up to 13% within a day.

Patel also mentioned a notable change in investor psyche, with the Fear and Greed Index reflecting a ‘Neutral’ stance, suggesting that retail investors are entering the market again. The reduction in exchange inflows hints at decreased selling pressure. If bullish momentum persists, Bitcoin could attempt to reach $100,000, with current support positioned at $88,000.

Riya Sehgal, Research Analyst at Delta Exchange, emphasised that geopolitical developments have contributed to positive sentiment. Statements from key figures like Treasury Secretary Scott Bessent and President Trump regarding a potential resolution of the U.S.-China trade conflict have enhanced the risk outlook, positively impacting both traditional stocks and digital assets.

Bitcoin’s market capitalisation now stands at $1.855 trillion, corresponding to a dominance of 63.37%. Daily trading volumes surged by 41.4% to $56.19 billion. Stablecoins accounted for approximately 94.89% of crypto trading volume, totalling $123.24 billion, based on data from CoinMarketCap.

Altcoins such as Avalanche and Cardano posted double-digit increases, while XRP and Solana rose by 9%. A decrease in Bitcoin dominance from 64% to 62% could further encourage a breakout among altcoins.