$33,000,000,000 in 6 Hours Gained by Crypto Market in Massive Reversal
The cryptocurrency market experienced an abrupt surge of bullish momentum, adding over $33 billion in total capitalization in just six hours, indicating a short-term shift in traders’ risk-on stance. Bitcoin, Ethereum and XRP led the charge as the rally propelled almost all significant assets into the green.
Massive market growth
Bitcoin increased 0.67% to approximately $110,700, while Ethereum (ETH) increased 1.22% to regain the $3,850 mark, according to market data. Following closely behind, XRP saw a daily gain of 11%, which was sufficient to overtake BNB and reclaim the fourth-largest cryptocurrency position by market capitalization.
At $152.2 billion, XRP’s total market capitalization is now ahead of BNB’s $150.4 billion, a slight but significant lead that indicates a resurgence of investor interest. Solana (+1.04%), Cardano (+0.62%) and Dogecoin (+0.61%) are all included in the sea of green that is the overall market heat map.
Staying positive
As Bitcoin’s stable position above its 200-day moving average restored some confidence, buying pressure briefly increased even for smaller-cap assets. The technical setup for Bitcoin is still cautiously optimistic, it is still above the crucial $108,000 support zone, and the next resistance cluster is forming close to $113,800-$114,000, which is in line with the 100-day moving average.
Ahead of significant macro data releases, the timing of the rally points to aggressive short liquidations and updated institutional positioning. Although most large caps’ RSI levels are still neutral, this move might be more of a relief rally than the beginning of a full-scale bull run.
Right now, all eyes are on XRP, whose return to the fourth spot may spark new conversations about its long-term potential in payments and remittances. The general lesson, however, is obvious: traders are back in action, liquidity is returning, and the cryptocurrency market has just served as a reminder to everyone of how quickly momentum can change.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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