Bitcoin surpassing $117,000 has stirred significant movements in the crypto market, boosting the positions of altcoins and meme coins.
Bitcoin's Surge and Its Market Impact
Bitcoin reached a new all-time high of over $117K following President Trump's announcement calling for aggressive Federal Reserve rate cuts. This news triggered a sharp rally across digital assets. Bitcoin ETFs reported nearly $1.2 billion in daily inflows, indicating strong institutional demand. Analysts note that key drivers remain ETF flows and macroeconomic dynamics.
Altcoin Positions: Ethereum, XRP and Cardano
Ethereum also showed strong growth backed by a $475 million ETH acquisition announcement and $158 million in daily inflows into the Ether ETF from BlackRock. XRP climbed to a 7-week high due to whale accumulation and positive signals for global adoption. Cardano surprised with the publication of a $659.1 million on-chain treasury report, and the launch of its new token added interest in DeFi.
Current Situation in Global Markets
Global markets are experiencing a risk-off sentiment sparked by Trump's new tariffs. US and European indices have corrected from their highs. Additionally, uncertainty regarding the Fed's interest rates is impacting investor sentiment. Economic instability is creating a premise for cryptocurrency to become a hedge and a growth narrative amid volatility.
In the current market situation, institutional investments are playing a significant role in cryptocurrency movements. Bitcoin, Ethereum, and XRP are becoming key players, while altcoins like Cardano and meme coins are finding their niches amid geopolitical uncertainty.
