The international cryptocurrency market started the week with a strong upsurge on Monday, indicating that it might end its sluggish momentum in recent weeks. Bitcoin is trading at $105,461 as of 11:30 AM IST, with a steep 3.5% 24-hour gain, while Ethereum surged more than 7% to $2,421.56. Some altcoins also reported big gains like Solana, XRP, Cardano, and Dogecoin.
The total market capitalization of digital assets worldwide went beyond $3.36 trillion, with trading volumes appreciating immensely. Dominance by Bitcoin was stable at about 62%, as the altcoins drew investors' attention with double-digit gains on the horizon for a number of tokens.
Analysts and traders attribute the Monday rally to a convergence of factors. A recovery in US technology stocks, sustained inflows into spot Bitcoin ETFs, and favorable macroeconomic data, ranging from softening inflation to tempering bond yields, have all contributed to shoring up risk appetite.
Technically, major cryptocurrencies pierced resistance levels that had pinned prices for most of June. Bitcoin surged past $ 105,000 with solid volume, and Ethereum reclaimed levels not seen in weeks.
"Today's breakout indicates the bulls are in charge again," noted Arjun Khanna, crypto strategist at Mumbai-based firm ChainGauge. "If the momentum continues, we may see BTC test $110K and ETH target $2,500 in the next few days."
Taking a look at the top 10 cryptocurrencies, one can find widespread optimism and better market structure. Here's how they performed as of 11:30 AM IST:
Price: $105,461.00
24h Change: +3.54%
Intraday Range: $100,055.00 – $105,934.00
Bitcoin was at the forefront of the rally with a neat break above its psychological barrier of $105,000. Experts pin the move on sustained institutional acquisition through ETFs and long-term holding trends. The fact that the asset remained above $105K during the session indicates a reversal of investor sentiment.
Ethereum recorded sharp gains as investors and developers flocked to DeFi sites in greater numbers. Smart contract usage is increasing, and gas prices are still within control, paving the way for broader ecosystem recovery. ETH may surge towards $2,500 if the momentum continues.
BNB held firm in Monday's trading, rising more than 3% after falling to $617 earlier. While Binance's international business continues to face scrutiny, the token remains widely utilized in trading, staking, and DeFi applications.
XRP registered one of the day's most robust intraday gains, advancing more than 8% as hopes for Ripple's fight against the US SEC reignite. The token's cross-border utility remains at the center of an investment thesis, and its price performance reflects increasing conviction that Ripple will survive the long haul.
ADA gained almost 8% intraday, supported by rising developer activity on Cardano's smart contract platform and an uptick in wallet addresses. If it crosses the $0.60 level, analysts expect potential for further gains towards $0.65.
Solana kept its momentum going, rising from its session low of $131 to $145.64. Being one of the fastest-growing layer-1 blockchains, Solana's expanding NFT and DeFi environment continues to entice users as well as capital.
The first meme coin jumped almost 8% on Monday, rebounding from lows in recent days on speculation of further integration into X's (previously Twitter) payment system. Dogecoin is still among the most frequently mentioned tokens on social media.
DOT rose more than 7% as investor attention returned to cross-chain ecosystems. With additional parachain slot auctions to be held later this quarter, DOT's use as a multichain governance token is back in focus.
MATIC's small gains coincided with increased activity on the Polygon chain. Ethereum scaling solution is still a favorite among developers deploying dApps, particularly in gaming and retail applications.
Litecoin gained more than 5% in value through the session, spurred by higher usage in payments and settlement with merchants. Its established brand as a 'silver to Bitcoin's gold' still has appeal among classic crypto holders.
Market participants are cautious but hopeful. With key levels regained, short-term traders look higher, while long-term investors look to sustained development, usage, and adoption figures.
"There's certainly strength in the market, but traders need to keep an eye on resistance areas," DeltaBlock India senior analyst Shreya Bansal said.
"If we see follow-through buying this week, we'd consider this a confirmed breakout."
Following weeks of weak trading, the cryptocurrency market is finally demonstrating aggressive upward action. With Bitcoin well above $105,000, Ethereum rising above $2,420, and altcoins joining the action in all categories, the outlook is considerably better.
The sustainability of this rally will rest on several factors, including macroeconomic numbers, regulatory certainty, and sustained developer participation. The present bounce is reassuring but not to be taken for granted. Traders and investors will be monitoring global market signals and central bank utterances later this week.