- The crypto market surged by $178 billion, with Bitcoin breaking past $93,000 and targeting $95,761 amid renewed investor optimism.
- Immutable X (IMX) led altcoin gains, jumping 32% as the total market cap approaches the $3 trillion milestone.
The crypto market is riding a fresh wave of bullish energy today, with Bitcoin smashing past $93,000 and the total market cap swelling by $178 billion in just 24 hours. The rally has reignited investor optimism, sending altcoins like Immutable X (IMX) soaring and setting the stage for a possible push toward the $3 trillion mark.
Bitcoin, the market’s bellwether, surged 6.3% to trade above $93,000, fueled by positive sentiment following Paul Atkins’ appointment as the next SEC Chair. The move has been interpreted as a sign of friendlier regulatory days ahead, lifting market confidence and prices along with it. BTC is now testing a crucial resistance at $93,625. A successful breakout could launch it toward the next key level of $95,761—and perhaps even spark a race to the psychological $100,000 threshold.
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Meanwhile, the total crypto market cap has climbed to $2.88 trillion, with $2.93 trillion now acting as the next target. A break above that could propel the market into uncharted territory near $3 trillion, further validating the current bullish trend. However, analysts warn that a slip below $2.85 trillion could stall the rally, dragging the cap back toward $2.74 trillion.
Altcoins aren’t sitting on the sidelines either. Immutable X (IMX) stole the spotlight by soaring 32% to $0.619, making it the top performer of the day. If momentum holds, IMX could climb to $0.721, recouping losses from earlier this year. But any failure to hold above $0.601 could put the altcoin at risk of a deeper correction toward $0.480.
Despite underlying concerns—like Ripple’s warning about a DeFi wallet attack and political tensions surrounding new crypto leadership—the mood across the market remains upbeat. With Bitcoin flirting with multi-month highs and altcoins catching fire, today’s rally could mark the beginning of a larger bullish phase. But as always in crypto, momentum can shift in the blink of an eye.
