The global cryptocurrency market cap surged past $3.21 trillion on Thursday, fueled by strong macroeconomic signals, a high-profile trade agreement announcement, and robust technical upgrades across major blockchain networks. Bitcoin’s historic climb above $100,000 has reignited investor confidence, while Ethereum’s ecosystem is witnessing a wave of capital inflows driven by the successful Pectra upgrade and rising institutional interest.
This momentum has also lifted key altcoins like PEPE, Chainlink (LINK), and emerging protocols such as Virtuals Protocol and SUI—each benefiting from unique catalysts ranging from whale activity to DeFi innovation. As geopolitical developments align with technological progress, the stage appears set for a potential altseason.
Why Is the Crypto Market Rallying Today?
The primary catalyst behind today's bullish movement was former U.S. President Donald Trump’s announcement of a new trade agreement with the United Kingdom. Shared via social media early Thursday, the news sparked optimism about reduced global trade tensions and increased economic cooperation.
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Markets had already priced in some positive sentiment ahead of the announcement, but the confirmation provided a strong psychological boost. Simultaneously, Chinese officials indicated ongoing discussions regarding existing tariffs, further reinforcing expectations of a more stable international trade environment.
In risk-on markets, cryptocurrencies often act as leading indicators of broader financial confidence. With traditional equities reacting positively and bond yields stabilizing, digital assets—particularly Bitcoin and Ethereum—have emerged as preferred vehicles for exposure to macro optimism.
Bitcoin Price Breaks $100K Milestone
Bitcoin reached an intraday high of $101,525 on Thursday, surpassing the long-anticipated six-figure threshold for the first time since February. According to TradingView data, BTC tested this resistance level multiple times before finally closing above it, marking a significant shift in market structure.
More importantly, trading volume doubled within 24 hours—from $35 billion to $76 billion—signaling strong demand at higher price levels. Elevated volume during breakout phases typically indicates sustainable bullish momentum, as new buyers absorb available sell-side liquidity.
This surge reflects growing adoption among institutional investors and retail traders alike, both viewing Bitcoin as a hedge against inflation and geopolitical uncertainty. With macro headwinds appearing to ease, BTC may continue its ascent toward new all-time highs in the coming weeks.
Ethereum Ecosystem Soars After Pectra Upgrade
While Bitcoin led the charge, Ethereum delivered an even more impressive performance, climbing 13% to reach $2,002.25—outpacing Bitcoin’s 4% gain. The rally coincided with the successful implementation of the Pectra upgrade, which introduced critical enhancements to account abstraction, transaction efficiency, and cross-chain interoperability.
A temporary withdrawal suspension on major exchanges like Coinbase during the upgrade window inadvertently reduced selling pressure at a pivotal moment. This technical coincidence amplified buying momentum, allowing ETH to break through key resistance levels with minimal pushback.
Ethereum Ecosystem Sees 30% Volume Spike
The total market capitalization of Ethereum-based tokens jumped to $53.5 billion, with 24-hour trading volume increasing by 30%. This surge highlights renewed investor appetite for decentralized finance (DeFi), non-fungible tokens (NFTs), and infrastructure projects built on the network.
Top gainers within the Ethereum ecosystem include:
- PEPE: Up 17% to $0.00006, fueled by resurgent meme coin speculation and large wallet movements.
- Chainlink (LINK): Rose 9.4% to nearly $15, supported by expanding cross-chain integrations and its association with pro-crypto financial initiatives.
- Virtuals Protocol (VIRTUAL): Gained 21% to $1.62 amid growing interest in next-generation DeFi platforms.
- AAVE: Climbed 10.6% past $187, reflecting renewed confidence in Ethereum-native lending protocols.
These gains underscore a broader rotation into high-utility altcoins as traders seek leveraged exposure to network growth beyond Bitcoin.
Layer-1 Altcoins Show Strong Momentum
Even outside Ethereum’s orbit, layer-1 blockchains are experiencing renewed interest:
- Solana (SOL): Up 8% to $157.76, driven by increasing on-chain activity and developer engagement.
- Cardano (ADA): Gained 8.1% to $0.7246, approaching a crucial breakout level at $0.75.
- Dogecoin (DOGE): Rose 8.3% to $0.1863, with social media buzz playing a key role in short-term price action.
- Ripple (XRP): Increased 4.7% to $2.23 despite lingering regulatory uncertainty, signaling persistent bullish sentiment.
The broad-based strength across layer-1 networks suggests improving risk appetite and growing confidence in blockchain scalability solutions.
Regulatory and Ecosystem Developments Boost Confidence
Recent institutional and foundation-led initiatives are adding structural support to the crypto market:
OCC Allows National Banks to Trade Crypto
The Office of the Comptroller of the Currency (OCC) has formally authorized national banks to buy and sell cryptocurrencies on behalf of clients. Banks can now outsource custody and execution services to third-party providers, provided they adhere to strict risk management frameworks.
This ruling marks a significant step toward mainstream financial integration, potentially paving the way for wider institutional participation.
👉 Learn how regulated financial institutions are entering the crypto space.
Ethereum Foundation Allocates $32M in Q1 2025 Grants
The Ethereum Foundation disbursed $32 million in grants during the first quarter of 2025 to support ecosystem development. Funding targets include:
- Core protocol research
- Zero-knowledge proof advancements
- Developer tooling improvements
- Educational outreach programs
These investments aim to strengthen Ethereum’s long-term competitiveness and scalability, ensuring sustained innovation beyond speculative cycles.
Frequently Asked Questions (FAQ)
Q: Did Bitcoin really break $100,000?
A: Yes. Bitcoin reached an intraday high of $101,525 on Thursday, marking its first close above six figures amid heightened trading volume and macro optimism.
Q: What is the Pectra upgrade on Ethereum?
A: Pectra is a major Ethereum network upgrade that enhances account abstraction, improves transaction batching, and strengthens cross-chain communication capabilities—laying groundwork for better user experience and scalability.
Q: Why did PEPE and other meme coins rise?
A: Meme coins like PEPE benefited from renewed speculative interest, social media momentum, and whale wallet activity during a broader risk-on market phase.
Q: Are banks now allowed to trade crypto in the U.S.?
A: Yes. The OCC has approved national banks to conduct crypto transactions for clients and may outsource custody and trading operations under regulated conditions.
Q: How does Trump’s trade deal affect crypto?
A: While not directly linked, the U.S.-UK trade agreement announcement improved global economic sentiment, boosting risk assets including cryptocurrencies.
Q: Is an altseason starting?
A: Early signs suggest yes—Ethereum outperformed Bitcoin, ecosystem volumes surged 30%, and diverse altcoins showed strong gains—a pattern typical of early-stage altseason rotation.
Final Outlook: A New Chapter for Crypto Markets
With Bitcoin firmly above $100K and Ethereum’s ecosystem expanding rapidly, the market is transitioning from a Bitcoin-dominated rally to a more diversified growth phase. Favorable macro conditions, regulatory clarity, and technological upgrades are converging to create fertile ground for sustained digital asset appreciation.
As institutional adoption accelerates and developer activity intensifies, investors should watch for continued momentum in utility-driven projects—particularly those leveraging Ethereum’s upgraded infrastructure.
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