The global cryptocurrency market cap rose 6.41% in the last 24 hours to about $2.48 trillion as risk-on sentiment returned to markets. Bitcoin jumped 7.33% to around $73,023.87, with Ethereum, Solana, and XRP up about 7–8%, and Dogecoin surging 15.28% to about $0.1023.
The move coincided with a rebound in risk assets as U.S. equities advanced: the Dow Jones Industrial Average rose 238.14 points to 48,739.41, while the Nasdaq Composite climbed 290.79 points to 22,807.48. February private payrolls rose by 63,000, above expectations of 48,000, supporting risk-on trading.
Owen Lau of Clear Street described the break above $73,000 as a potential floor breakout and suggested that if the CLARITY Act passes in the United States by summer, crypto regulation could become clearer and support further gains. But others cautioned that the advance may be a temporary rebound rather than a sustained uptrend, with CoinDesk characterizing it as a classic bull trap. Geopolitical tensions and ongoing volatility leave open the possibility of a near-term pullback after a brief rally.
Leave a Reply