Crypto Market Soars Past $3 Trillion: Bitcoin Eyes $100K, Altcoins Surge

Global Crypto Market Surges Past $3 Trillion Amid Major Trade Deal Announcements

The cryptocurrency market experienced a significant rally on Thursday, with the total market capitalization surpassing $3 trillion. According to FXStreet, Bitcoin (BTC) broke above $99,000, while the Asian markets also traded higher in response to US President Donald Trump's announcement of a major trade deal with a "big, and highly respected, country." This announcement, made via Trump's Truth Social account, was the first such agreement since the imposition of tariffs on several of America's trading partners. The news conference was scheduled for 10:00 in Washington, DC (15:00 BST).

The positive sentiment extended to the crypto markets, with the top 10 cryptocurrencies trading in the green during the early Asian session, as reported by CoinGecko. The rally triggered a wave of liquidations, wiping out 71.43% of leveraged short positions. In the last 24 hours, 106,273 traders were liquidated, totaling $291.90 million in liquidations, with the largest single order on Binance (BTCUSDC) valued at $10.59 million, according to Coinglass.

Metric	Value
Total Crypto Market Cap	$3 trillion
Bitcoin Price (Peak)	Above $99,000
Traders Liquidated (24h)	106,273
Short Positions Liquidated	71.43%
Total Liquidations	$291.90 million
Largest Single Liquidation	$10.59 million (Binance BTCUSDC)

Asian equity markets also traded in the green following the trade deal news.
The rally was attributed to the easing of tariff uncertainty and a broader risk-on sentiment.

Summary: The crypto market's surge past $3 trillion was driven by optimism over a major US trade deal, resulting in a significant short squeeze and widespread gains across major cryptocurrencies. (Source: FXStreet)

Bitcoin Approaches $100,000, Ether Surges on Trade Deal Optimism

Bloomberg.com reports that Bitcoin approached the $100,000 mark for the first time since February, rising as much as 3.2% to $99,894 on Thursday. The surge coincided with expectations of a trade agreement announcement between the US and the UK. Ether, the second-largest cryptocurrency, soared by as much as 9.4% to $1,968, while most major tokens also climbed higher.

Bitcoin's price increase: up to $99,894 (+3.2%)
Ether's price increase: up to $1,968 (+9.4%)
Market sentiment was buoyed by anticipated trade agreements and easing trade fears.

Summary: Bitcoin and Ether both posted strong gains, with Bitcoin nearing $100,000 and Ether rising sharply, as the market responded positively to trade deal developments. (Source: Bloomberg.com)

Crypto Market Liquidations Exceed $298 Million as Bitcoin Hits $100,000

According to Investing.com, the cryptocurrency market experienced a "bloodbath" for leveraged traders, with total liquidations exceeding $298 million in the previous day as Bitcoin surged to $100,000. Bitcoin led the losses with $114.46 million in liquidations, followed by Ethereum at $65 million. Short positions accounted for $215 million of the liquidations, indicating a classic short squeeze scenario.

Asset	Liquidations
Bitcoin	$114.46 million
Ethereum	$65 million
Short Positions	$215 million
Total Liquidations	$298 million

Bitcoin's dominance in the market has now surpassed 60%, reinforcing its position as the leading cryptocurrency. The price action is approaching a crucial resistance zone at $100,000, with the next range projected between $105,000 and $110,000 if volume supports the move. Otherwise, a rejection could see prices fall back toward $92,000-$94,000. The Relative Strength Index (RSI) is hovering around 70, suggesting potential short-term volatility.

Bitcoin is trading above all major moving averages (50, 100, 200 EMA).
Market strength is currently concentrated in Bitcoin, with altcoins lagging behind.

Summary: The recent rally led to massive liquidations, particularly among short positions, as Bitcoin's dominance and price surged, but technical indicators suggest possible volatility ahead. (Source: Investing.com)

Bitcoin Outperforms Gold and US Stock Markets

The Economic Times highlights that Bitcoin, the world's top cryptocurrency, is outperforming traditional assets such as gold and major US stock market indices like the S&P 500 and Nasdaq. The article emphasizes Bitcoin's strong price outlook for 2025, noting its superior returns compared to these established benchmarks.

Bitcoin is currently beating gold, the S&P 500, and Nasdaq in terms of performance.
The outlook for Bitcoin remains positive, with continued investor interest and momentum.

Summary: Bitcoin's performance has outpaced both gold and leading US stock indices, reinforcing its status as a top-performing asset in the current market environment. (Source: The Economic Times)

Altcoins Rally as Bitcoin Retakes $100,000

Decrypt reports that while Bitcoin has retaken the $100,000 level, it is altcoins that are driving the broader crypto market rally. Ethereum gained 11% over the past 24 hours, breaking through $2,000 for the first time since March. Dogecoin and Cardano both rose by more than 8%, with Sui up 13.8% and Bitcoin Cash trading 14.3% higher. Despite the strong performance of altcoins, Bitcoin's dominance remains high at 64%.

Cryptocurrency	Price	24h Change
Bitcoin (BTC)	$101,110.00	+2.7%
Ethereum (ETH)	$2,045.92	+11%
Dogecoin (DOGE)	$0.190102	+8%+
Cardano (ADA)	$0.732298	+8%+
Sui (SUI)	$3.91	+13.8%
Bitcoin Cash (BCH)	$418.15	+14.3%

Altcoins are outperforming Bitcoin in percentage gains.
Bitcoin's market dominance remains at 64%.
Analysts caution that increased social media buzz about "altseason" could be a red flag for investors.
Market uncertainty persists due to ongoing tariff policies.

Summary: Ethereum and other altcoins are leading the current rally, posting double-digit gains, while Bitcoin maintains a high level of market dominance. (Source: Decrypt)

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