News

Breaking: Bitcoin Breaks $20K, Ethereum Explodes In Crypto Rally

The crypto market is experiencing a strong rally. Bitcoin has broken the $20k price level while the altcoins have shown strength as well.
Published by
Breaking: Bitcoin Breaks $20K, Ethereum Explodes In Crypto Rally

The crypto market is experiencing an extremely strong rally. Bitcoin has finally broken the $20K price level and is still surging. BTC has surged 5% in the last 24 hours and over 1% in the last hour. It is currently trading at $20,324.

On the other hand, Ethereum is outpacing Bitcoin and is showing extremely bullish sentiment. ETH has surged 12% in the last 24 hours and over 15% in the last 7 days. The Ethereum rally is still going strong as ETH has climbed 1.24% in the last 24 hours.

Advertisement

How Are Altcoins Performing In Crypto Rally

In recent times, Bitcoin performed relatively stable and fluctuated in the $18k-$19K range. However, some of the altcoins continued to perform poorly and showed extreme volatility. Crypto investors will rejoice at the fact that the altcoins are driving today’s rally.

BNB Coin exploded by 5% in the last 24 hours and is trading at $289.67. Cardano (ADA) continues to show extreme strength in today’s rally. ADA is up by 14% in the last 24 hours and is trading at $0.4125.

Solana broke its negative trend of the last week and showed strength. $SOL exploded by 11% in the last 24 hours. This brings its total gain for the week to 6%. Polkadot and Litecoin are showing the strongest bull movement as both have surged 2% in the last hour.

Advertisement

Is The Bottom In

The crypto market was performing poorly due to unfavorable macroeconomic conditions. The Federal Reserve was combating the high inflation level through quantitative tightening and interest rate hikes. The dollar’s continued strength was also plummeting the crypto market.

However, as the dollar index fell today, the crypto market saw a strong rally.

Experts however are warning that the crypto bottom may not be in. The Federal Reserve still maintains an extremely hawkish stance and is likely to increase interest rates with another 75 bps hike.

The threat of further inflation due to the Russia-Ukraine war can also crash the crypto market.

Advertisement

Share
Nidhish Shanker

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society's biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Leading asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025
  • News

Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill

Crypto and AI Czar David Sacks is set to meet with Republican members of the…

October 21, 2025
  • News

Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails

Federal Reserve Governor Chris Waller has floated the idea of a 'Payment account' framework that…

October 21, 2025
  • Altcoin News

Aster Outpaces Lighter in Perp DEX Rankings as Wintermute Buys the Dip After Previous Dump

Aster is regaining momentum in the perp DEX space as it outpaces Lightchain in 24-hour…

October 21, 2025