Crypto Market Ignites Bullish Drive Today: Here’s Why

25 Mar, 2024 Updated 17 Jul, 2025

By David Pokima

Crypto Journalist

Expertise : Finance/Crypto Journalist

David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal 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.

The cryptocurrency market has taken gains coming off the weekend recording positive numbers in multiple metrics. The total crypto market capitalization is up 3.5% today to $2.56 trillion starting the week with fresh inflows.

New gains were marked in crypto asset prices, institutional inflows, and DeFi volumes as well as a surge in total value-locked TVL in the last 24 hours. A key indicator is the sharp 15% increase in trading volumes in the same time frame. Trading volumes in crypto assets stand at $81.2 billion while DeFi volumes swirl around $8.05 billion, a 9% jump.

Crypto Assets Run Uphill

Bitcoin (BTC) is up 3.52% wiping out previous weekly losses as seven-day net stands at a decline of 0.89%. Bitcoin’s 24-hour volume is up 29% today at $29.9 billion. At press time, Bitcoin trades at $67,019 after moving sideways in previous days.

Last week, Bitcoin recorded major outflows due to macroeconomic factors and reduced investor confidence as the wider crypto market plummeted.

Ethereum is up 2% reducing weekly losses to 3.7% and a 30-day gain of 13.79%. BNB and Solana are up 4.1% and 7% respectively showing strength in the renewed form of the market. However, Dogecoin and Shiba Inu are at slight daily losses at 1% and 1.23% respectively as the memecoin frenzy cools.

Why Is The Market Up?

Analysts opine a key reason for the uphill swing is anticipation for the upcoming halving perceived as a bullish event in the coming days. After the passage of spot Bitcoin ETFs, miners, and traders turned to halving hedging their positions through various strategies.

Miners have also been seen to be moving assets and scrambling for old mining hardware to improve capacity. Also, experts predicted a rebound that followed the correction of last week. The correction that led to outflows was slowed down by reactions to the Federal Open Market Committee’s (FOMC) meeting. The decision to maintain rates and a hint at cuts later in the year can swing things in the market’s favor.

However, weekly impacts remain high as reported by outflows from crypto asset products. Last week digital asset products recorded $942 million outflow, the first exits in the last seven weeks.

Also Read: 5 Crypto Stocks To Buy In India During Holi 2024

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.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.