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Why Is the Crypto Market Up Today? Here’s What’s Driving the Surge
The crypto market has experienced a remarkable surge in recent hours, with Bitcoin and other altcoins rebounding sharply. In fact, the global cryptocurrency market cap has just surpassed $2 trillion for the first time ever.
As we dive deeper into what’s behind this sudden turnaround, it becomes clear that several factors are at play here.
Firstly, the news that U.S. President Donald Trump is pausing his tariff plans with Mexico and Canada has sent a positive shockwave through global markets. The temporary delay in tariffs calmed market fears, leading to a significant rebound across most asset classes, including cryptocurrencies.
Furthermore, institutional investors have taken the opportunity to buy Bitcoin at lower levels. According to CryptoQuant’s analyst Maartunn, the Coinbase Premium Gap – an indicator that tracks Bitcoin’s demand on Coinbase compared to other exchanges turned positive, reaching +103.6. This suggests strong buying interest from institutional investors in the U.S.
The combination of these factors has led to a powerful upward momentum across cryptocurrencies, with even more volatile assets like Ethereum and Dogecoin posting gains of up to 20%.
Source: coinpedia.org
