In a significant market movement, the price of Bitcoin (BTC) surged past the key psychological barrier of $89,000, trading at $89,008.28 on the Binance USDT market. This rally reflects renewed institutional confidence and a shift in broader macroeconomic conditions, with analysts citing regulatory clarity, consistent spot Bitcoin ETF inflows, and currency devaluation concerns as primary drivers.
Bitcoin's leadership was reinforced as it rose 1.6% to $88,988.52, supported by $23.66 billion in trading volume and a market capitalization firmly above $1.77 trillion. The move triggered increased activity across the cryptocurrency spectrum. Ethereum (ETH) followed the trend, gaining 1.6% to $3,024.20. Solana (SOL) outperformed several large-cap peers, climbing 2.6% to $127.62 on nearly $2.93 billion in volume.
A key highlight of the session was Dogecoin (DOGE), which led large caps with a sharp 7.9% surge to $0.1284, with trading volume exceeding $1.60 billion, indicating a return of speculative interest. Cardano (ADA) also added significant momentum, rising 5.9% to $0.3562.
Beyond large caps, a range of altcoins posted explosive gains, signaling a broader rotation into higher-risk assets. Pepe (PEPE) advanced 24.1% to $0.055092, while other tokens like Clash of Lilliput (COL) and Holoworld (HOLO) saw gains exceeding 30%. Market sentiment, as measured by fear and greed indices, shifted from neutral to greedy, though analysts note the current market structure, supported by mature infrastructure and institutional participation from firms like Fidelity and BlackRock, differs markedly from previous retail-driven peaks.
