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Bitcoin prices jumped to a two-month high near $96,500 on most platforms before settling around $95,000, with the digital currency market recording strong gains over the past 24 hours.
This move was accompanied by a significant increase in the total market capitalization of over $110 billion in one day.
Bitcoin price action was bleak over the weekend, falling below $91,000, after falling below $92,000 on Friday.
At the beginning of the week, buyers made several attempts to push the price to $92,400, but the momentum did not sustain.
The real turnaround came on Tuesday, when lower-than-expected inflation (CPI) data from the United States initially pushed prices up to $92,400.
This time, Bitcoin prices remained flat before a buying wave intensified following comments from US President Donald Trump that triggered widespread reactions.
Within hours, the price rose by about $4,000 for the first time in two months, reaching $96,500.
Although momentum has since waned, Bitcoin’s price has remained above $95,000.
Market capitalization rose to approximately $1.9 trillion, while dominance over the alternative currency held steady at around 56.9%.
Altcoins have clearly caught up.
Ethereum was one of the most notable winners among the major currencies, with its price rising by more than 6% to over $3,300 after trading below $3,100 a few days ago.
XRP is also up around 4%, approaching $2.15, BNB is rising to near $940, while SOL is trading around $144.
ADA is up over 8% to around $0.42, while XLM is up around 9% to $0.24.
LINK and DOGE also posted gains of 6% to 7%.
The biggest increase was in currencies such as IP, which rose by 28%, PEPE and ICP each rose by 14%, PUMP rose by 12%, ENA rose by 11%, and ARB rose by 10%.
As a result of this collective performance, the total market capitalization of digital currencies rose to approximately $3.33 trillion.
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