Crypto market was on a roll-on Thursday as Bitcoin reclaimed $93,000 market

Crypto market was on a roll-on Thursday as Bitcoin reclaimed $93,000 market, while other leading digital tokens soared up to 15 per cent during the day.

The crypto market was on a roll-on Thursday as Bitcoin reclaimed $93,000 market, while other leading digital tokens soared up to 15 per cent during the day. The rise in the digital assets was on the back of weakness in the US dollar and positive comments from the Treasury Secretary Scott Bessent's statement over US-China tussle, along with rising institutional demand.

According to the data from Coinmarketcap, Bitcoin soared 6.65 per cent to $93,847.25 on Wednesday. The total market capitalization of Bitcoin stood close to $1.85 trillion, while Bitcoins worth $56.5 billion were traded in the last 24 hours, a rise of over 50 per cent. The largest crypto asset is still nearly 15 per cent below its all-time high $1,09,114.88 hit in January this year.

Another bullish metric is the decline in exchange inflows, suggesting reduced selling pressure, helping build momentum. If bulls stay in control, a move towards $100k is expected, with the support moving up to $88,000, said Alankar Saxena, Co-founder and CTO at Mudrex.

“We are now seeing a shift in macroeconomic favorability with the US dollar index hitting a 3-year high, setting the stage optimally for crypto assets to perform well,” said Himanshu Maradiya, Founder and Chairman at CIFDAQ Group.

Adding to the bullish sentiment is the appointment of Paul Atkins as SEC Chairman. His return signals a shift toward a more constructive regulatory approach.

Second largest crypto token, Ethereum zoomed more than 15.30 per cent to $1,816.52. Its traded volume soared more than 80 per cent $26.27 billion in the last 24 hours, while the market capitalization hitting 220 billion, according to the Coinmarketcap data.

Among other top crypto tokens DogeCoin, Cardano, Chainlink, Avalanche soared 10-12 per cent, while XRP and Solana gained 6-8 per cent each. However, the rise in altcoins hit Bitcoin’s dominance marginally, which decreased 0.39 per cent over the day to 63.28 per cent, as of the time of writing this story.

Bitcoin jumped while altcoins and attracted massive gains in the past 24 hours following the inauguration of the new SEC chairman Paul Atkins, who assured to provide a regulatory foundation for digital assets, said CoinDCX Research Team. The spot ETF also witnessed a decent rise in the inflows, hinting towards the rise in institutional adoption," it said.

The easing tensions between US President Donald Trump and US Federal Reserve Chairman Jerome Powell lifted the moods of riskier assets. Beside this, Bessent's statement that he expects US and China to reach a trade deal soon as the current tariff feud is unsustainable. Also, the falling dollar is also increasing the appeal of bitcoin.

This sharp move upward isn’t just a product of technical momentum, it’s driven by stronger macroeconomic signals and renewed institutional interest, said Riya Sehgal, Research Analyst at Delta Exchange

“With long-term holders steadily accumulating and technical indicators showing strength above key support levels, Bitcoin may make a decisive push toward the $100,000,” she said.

The total market capitalization of the crypto market soared nearly 7 per cent to $2.94 trillion mark. The total crypto market volume over the last 24 hours is $133.51 billion, which makes a 53.61 per cent increase.

The crypto market is undergoing a robust rally, driven by several bullish influences, such as rising hopes for Federal Reserve policy changes, technical signals like the golden cross, and rising institutional demand, said Avinash Shekhar, Co-Founder & CEO at Pi42.

“The trend is supplemented with robust spot ETF inflows and general macroeconomic backdrop. It is driven by this combination of trends which has created a bull mania, an indicator of increased faith in the long-term worth and application of crypto in a fresh financial system,” he said.