The cryptocurrency market has posted strong gains on September 12, 2025, with total market capitalization rising by 1.5% to reach $4.12 trillion. Notably, 92 of the top 100 cryptocurrencies recorded gains over the past 24 hours, with trading volume standing at $168 billion.
Bitcoin (BTC) appreciated 1.1% to trade at $115,350, while Ethereum (ETH) gained 2.3% to reach $4,548. Solana (SOL) emerged as the top performer among major cryptocurrencies with a 7.1% surge to $238, followed by Dogecoin (DOGE) which increased 4.8% to $0.2617.
The rally was fueled by multiple factors including substantial institutional inflows. US Bitcoin spot ETFs recorded inflows of $552.78 million on September 11, bringing cumulative net inflows to $56.19 billion. BlackRock led with $366.2 million in inflows, while Fidelity recorded $134.71 million. Ethereum ETFs also saw positive flows of $113.12 million.
Significant institutional activity was noted with Galaxy Digital acquiring 2.31 million SOL (worth approximately $536 million) transferred from Binance, Bybit, and Coinbase wallets. Meanwhile, bankrupt firms FTX and Alameda withdrew approximately 192,000 SOL ($44.9 million), though 4.18 million SOL ($977 million) remains staked.
Market analysts point to macroeconomic factors as key drivers. Thursday's US consumer inflation data came in at 2.9%, while the Producer Price Index showed wholesale prices surprisingly dropped in August. This data has increased speculation that the Federal Reserve will cut interest rates at next week's meeting, typically benefiting risk assets like cryptocurrencies.
Regulatory developments also contributed to positive sentiment. The SEC announced "Project Crypto," a new framework covering tokenization and stablecoins, providing much-needed regulatory clarity. Additionally, Gemini Space Station's IPO saw $425 million raised with demand exceeding supply by 20 times, reflecting growing investor appetite for crypto-related companies.
Technical indicators show bullish signals, with Bitcoin consolidating near $114,497 and analysts noting that a firm move above $115,411 could lead to further gains toward $117,150. The crypto fear and greed index increased from 47 to 50, indicating persistent caution but a continual rise in bullish sentiment.