Ether has soared by a striking 7% in the past 24 hours, buoyed by Bitcoin’s impressive rise past $109,000. This surge has breathed new life into a previously stagnant crypto market. Dogecoin followed suit, climbing over 5% to hover around 19 cents during Asian trading hours on Tuesday, while Cardano’s ADA also advanced by more than 5%. The overall market capitalization saw a more than 3% uptick, with the CoinDesk 20 index (CD20) gaining 4%.
Bitcoin’s Momentum and Market Sentiment
The crypto market’s revitalization appears to be driven by a mix of renewed investor optimism and significant geopolitical developments. Bitcoin’s leap to approximately $110,000 coincides with the resumption of US-China trade discussions and the SEC’s nod to new crypto ETFs, injecting a fresh wave of bullish sentiment into the market. Augustine Fan, Head of Insights at SignalPlus, noted in an email to CoinDesk, “We anticipate a continuation of the bullish trends as crypto attracts more institutions and retail investors with innovations and competitive returns.” This optimism mirrors previous sentiments when Bitcoin jumped above $97K amid hopes for a U.S.-China trade deal.
The backdrop of these developments is the anticipation of key inflation data expected later this week. This data could heavily influence interest rate expectations, adding an additional layer of complexity to the already dynamic crypto landscape. As the market digests these external factors, traders are keenly watching for any further shifts that could impact prices.
Resilience Amid Challenges
Despite recent volatility triggered by the Trump-Musk spat, the crypto market seems to be finding its footing. Kay Lu, CEO of HashKey Eco Labs, remarked that the market’s response to last week’s drama may have been overstated. “We’re seeing some market recovery as fundamentals remain strong,” Lu observed. The upcoming Consumer Price Index (CPI) data release on Wednesday is viewed as a potential catalyst for further price movements, offering a possible turning point for the market.
However, not everyone is convinced that the current bullish trajectory will be smooth sailing. Jeff Mei, COO at BTSE, cautioned that the current cycle could be more intricate due to the proliferation of investment avenues. “We’re seeing more options for investors to get crypto exposure, whether through ETFs, corporate treasuries, or stablecoin issuers,” Mei pointed out. “This cycle will be more nuanced as crypto matures as a macro asset class.”
The Bigger Picture
Bitcoin’s robust performance above $109,000 amid varying geopolitical and macroeconomic signals is a testament to its resilience and growing recognition as a macro asset. Nick Ruck, director at LVRG Research, emphasized this point, stating, “Bitcoin’s climb amid geopolitical and macro headwinds reinforces its standing as a macro asset class.” The recent momentum around ETFs has reignited mainstream interest in cryptocurrency, potentially paving the way for broader adoption. This surge in interest is reminiscent of previous instances when Bitcoin surged past $94,000 due to growing institutional interest.
As the crypto market continues to evolve, the interplay between regulatory developments, global economic shifts, and technological innovations will likely dictate its trajectory. The coming weeks, especially with the looming release of inflation data, could prove pivotal. Questions linger about whether the current bullish momentum can be sustained, but one thing is clear: the cryptocurrency market is anything but predictable.
The market’s resilience and adaptability in the face of challenges underscore its potential as a transformative force in the financial landscape. As we navigate June 2025, the crypto world remains a captivating arena of opportunity and uncertainty.
Source
This article is based on: What Next as Ether Zooms 7%, DOGE Leads Majors Gains Amid Bitcoin Euphoria
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
