The crypto market showed growth on Monday, continuing a trend that began on Sunday when Bitcoin and many altcoins saw a sharp decline.
Crypto Market Growth
Bitcoin's price rose to $115,300, recovering from a drop to $112,000 over the weekend. Altcoins like Spark, MemeCore, Mantle, and Sei also showed significant gains. The market capitalization of all cryptocurrencies increased to over $3.78 trillion.
Bullish IPO and Its Impact on the Crypto Market
One of the key stories driving the market rally is the upcoming Bullish IPO, a crypto exchange backed by Peter Thiel. The company plans to raise $629 million by offering 20.3 million shares. This follows the successful IPO of Circle Internet, which boosted its valuation to over $60 billion.
Changes in the Federal Reserve
Bitcoin and altcoins are also seeing gains amid President Donald Trump’s preparation to replace Adriana Kugler at the Federal Reserve. This change could lead to further shifts in interest rate policies. Historically, as seen in 2024, crypto assets tend to perform well when rates are cut.
Amid news of IPOs and changes in the Federal Reserve, the crypto market is showing signs of recovery. However, risks remain, and it is essential to monitor the situation's further development.
