Synopsis
Bitcoin surged 5.3% to trade at $102,889 on the day, hitting intraday highs of $103,969. Though still below its January all-time high of $109,114, the cryptocurrency has rebounded strongly and is now up for the year.
Bitcoin reached $103,000 for the first time since February on Friday, driven by optimism surrounding a significant trade agreement between the United States and the United Kingdom, signaling potential relief from ongoing trade tensions.
As of 6:48 am IST, Bitcoin was trading at $102,889, up 5.3% on the day, with intraday highs reaching $103,969. While still below its all-time high of $109,114 set in January, Bitcoin has made a strong recovery and is now in positive territory for the year.
Ashish Singhal, Co-founder of CoinSwitch, attributed Bitcoin’s resurgence to a combination of global policy changes, institutional confidence, and macroeconomic factors. He noted that the optimism surrounding U.S.-China and U.S.-U.K. trade talks, along with steady interest rates by the U.S. Federal Reserve, has had a positive impact on Bitcoin as a digital risk asset.
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TOP COIN SETSDeFi Tracker12.10% BuyCrypto Blue Chip – 58.12% BuyWeb3 Tracker8.10% BuyNFT & Metaverse Tracker5.80% BuyAI Tracker5.67% BuyTOP COINS (₹) Ethereum189,144 (21.94%)BuyXRP198 (9.08%)BuyBitcoin8,839,348 (6.24%)BuyBNB53,688 (5.13%)BuyTether86 (1.43%)Buy“Bitcoin’s recovery reflects a global convergence of policy shifts and institutional confidence,” Singhal said. He also highlighted the U.S. government’s decision to establish a Strategic Bitcoin Reserve earlier this year, marking a historic embrace of digital assets at the sovereign level. This move, along with recent Bitcoin Strategic Reserve bills passed in Arizona and New Hampshire, signals growing support for Bitcoin at a policy level.
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View Details »Meanwhile, altcoins also saw significant gains. Ethereum surged 22%, XRP increased by 8.7%, and Solana rose 9.7%, among other notable movers. The global cryptocurrency market capitalization climbed 6.65% to $3.22 trillion, according to .
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Also Read: Crypto market regains bullish momentum amid economic shifts and institutional inflows
Bitcoin’s market cap surpassed $2 trillion, currently standing at $2.039 trillion, while trading volume surged 63.5% to $68.7 billion. The total volume of stablecoins now represents 93.89% of the total 24-hour cryptocurrency market volume, which amounts to $153.44 billion.
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