Crypto Market Update (Feb 3, 2025): Bitcoin Nears $95K as Cardano Surges 60%

The crypto market is riding a strong wave of bullish momentum, fueled by a groundbreaking move from U.S. President Donald Trump. His endorsement of a strategic crypto reserve—which includes XRP, Solana, and Cardano—has sent shockwaves through the industry, pushing the global crypto market cap up 9.01% to $3.09 trillion.

Bitcoin Price Spikes from $85K to $95K in Just 24 Hours

Bitcoin (BTC), the undisputed leader of the crypto market, saw an explosive rally in response to the latest policy shift. After dipping to $85K, Bitcoin surged 11.76% to hit a 24-hour high of $95K. At press time, BTC remains strong at $92,935.81, reflecting an 8.17% gain from the previous day.

BTC’s trading volume also saw a significant uptick, with $66.9 billion worth of trades executed in the past day. The cryptocurrency’s market dominance now stands at 59.7%, solidifying its grip on the digital asset space.

Altcoins on Fire: XRP and Solana Post Double-Digit Gains

The bullish sentiment isn’t limited to Bitcoin—altcoins are experiencing a major boost as well.

• Ethereum (ETH): The second-largest crypto gained 9.90%, reaching $2,446.46.
• XRP: A stunning 24.77% rally pushed the price to $2.80, driven by renewed interest from institutions.
• Solana (SOL): Another standout, Solana saw an 18.41% jump, trading at $169.99.

Cardano Steals the Spotlight: A 61.79% Rally

Among the top 100 cryptocurrencies, Cardano (ADA) emerged as the best performer, skyrocketing 61.79% to $1.07. Analysts attribute this surge to two key factors:

1. Increased institutional interest due to its inclusion in Grayscale’s smart contracts fund.
2. Whale accumulations, signaling confidence from major investors.

Other notable gainers include:

• XCN: +32.77% to $0.02037
• XRP: +25.44% to $2.82

Not Everyone is Winning: Top Losing Cryptos

Despite the bullish trend, a few assets saw corrections:

• Maker (MKR): -7.21% to $1,521.07
• Celestia (TIA): -4.74% to $3.97
• Berachain (BERA): -3.51% to $8.15

Market Outlook: What’s Next?

With Bitcoin on the verge of hitting $100K, altcoins thriving, and institutional interest ramping up, the crypto market appears primed for further gains. However, investors should stay vigilant, as volatility remains a defining factor in this space.