Another day, another milestone for Bitcoin—and this time, it’s looking bullish. The world’s top cryptocurrency is now hovering around $97,000, climbing nearly 2% in the past 24 hours and showing impressive resilience throughout the week. After briefly dipping to $93,500, Bitcoin has bounced back strongly, staying well within a $5,000 trading range that traders are watching closely.
But Bitcoin isn’t the only one making moves.
Ether Climbs While Altcoins Stumble
Ethereum is also in the green, gaining 1.7% and crossing the $1,800 threshold. However, the same can’t be said for other altcoins. Ripple (XRP) dropped 3.8%, Cardano (ADA) slipped 2%, and Solana (SOL) is holding flat. The worst performer in the top 20? Avalanche (AVAX), down more than 8%. On the flip side, Hyperliquid’s HYPE token is stealing the spotlight with a 15% gain, making it this week’s standout among the top digital assets.
What's Fueling the Bitcoin Surge?
Two major macro factors are supporting this week’s uptrend:
Easing trade tensions between the U.S. and China, with a key meeting scheduled in Switzerland this weekend.
Investor optimism around the FOMC press conference happening tonight. While the Fed is expected to keep rates above 4.25%, markets are hoping for a dovish tone from Jerome Powell.
These external factors, combined with Bitcoin’s resilient price action, continue to make it the asset of choice for big money—and the inflows prove it.
ETFs Are Driving Demand
According to data from Farside, $1.38 billion was poured into U.S.-based Bitcoin ETFs over the past five business days. In total, CoinShares reports $2 billion of new inflows into crypto investment products last week alone, 90% of which went into Bitcoin. That brings the 5-week total to a whopping $5.5 billion—most of it coming from U.S. investors.
Ethereum also had a solid showing, drawing in nearly $150 million in inflows.
Bitcoin Dominance Hits a 4-Year High
With this massive influx of capital, Bitcoin’s market dominance has surged above 65% for the first time since January 2021. This signals a strong return to the Bitcoin-first narrative among institutional and retail investors alike.
U.S.–China Meeting Boosts Global Markets
The upcoming U.S.-China meeting is injecting optimism into both crypto and equities. Treasury Secretary Scott Bessent’s comments about ending the current tariff war—which he called "equivalent to an embargo"—were well received. The Hang Seng Index opened 1% higher, while the S&P 500 recovered its losses by midnight CET after the announcement.
All Eyes on the Fed
Markets are now bracing for tonight’s FOMC press conference. If Powell hints at easing monetary policy, Bitcoin could blast through $100K as early as today. Despite interest rates holding steady, inflation data is looking better: U.S. CPI sits at 2.4%, and Eurozone inflation is at 2.2%.
Still, not everything is rosy. Some economists argue that inflation hasn’t meaningfully improved since last fall, and the job market—while strong—hasn’t made enough progress to give the Fed much wiggle room.
Political Drama: Trump, Stablecoins, and the GENIUS Act
Meanwhile, U.S. crypto politics are heating up. Trump’s involvement in crypto ventures is under scrutiny. Chainalysis found that 58 wallets gained $10M+ from the controversial TRUMP and MELANIA tokens, while over 764,000 wallets lost value. Add to that a $2 billion Abu Dhabi investment in Binance, reportedly using the USD1 stablecoin from World Liberty Financial—potentially benefiting Trump indirectly—and now the GENIUS Act is under fire.
Senator Elizabeth Warren is calling for changes to the bill, warning about potential corruption tied to stablecoin lobbying and insider gains.
“If Saturday’s U.S.–China meeting goes well, and the Fed leans dovish tonight, the crypto market could be on the brink of its next major leg up.”
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