Why Crypto Market is Up Today? XRP, Bitcoin, and Institutional Interest Driving the Surge?

The post Why Crypto Market is Up Today? XRP, Bitcoin, and Institutional Interest Driving the Surge? appeared first on Coinpedia Fintech News The total crypto market cap gained around 2 percent in the past 24 hours to hover about $3.63 trillion on Thursday, January 16, during the early European session. With Bitcoin (BTC) correlation with the traditional stock indexes declining by the day, ahead of the much-anticipated inauguration of Donald Trump , the total crypto market cap has surpassed Apple Inc. (NASDAQ: AAPL) in valuation. Bitcoin price rallied over 3 percent in the past 24 hours to trade above $100k before retracing towards $99.4k at the time of this writing. Ripple Labs’ XRP led the altcoin industry in palpable gains ahead of the much-anticipated altseason. Major Factors that Contributed to Crypto Market Rebound Today Crypto Short Squeeze After Bitcoin price opened Monday in a dragonfly Doji candlestick , the bullish sentiment has gained the upper hand. In the past 24 hours, more than $346 million was liquidated from the crypto-leveraged market, with the majority involving short traders. With more sellers turning to buyers, the emergence of a robust short-squeeze has propelled the crypto bullish sentiment. Renewed Interest from Whale Investors The cryptocurrency industry has registered renewed interest from institutional and retail traders after a robust rebound in the last two weeks. According to market data from Coinhsares, digital asset investment products saw inflows of $48m last week, led by Bitcoin, Ethereum, and XRP. Meanwhile, the US spot Bitcoin ETFs registered a net cash inflow of $755 million on Wednesday, thus negating the losses recorded in the previous four days. Additionally, the US spot Ether ETFs registered a net cash inflow of $59 million, thus ending a dry streak of four days. .article-inside-link { margin-left: 0 !important; border: 1px solid #0052CC4D; border-left: 0; border-right: 0; padding: 10px 0; text-align: left; } .entry ul.article-inside-link li { font-size: 14px; line-height: 21px; font-weight: 600; list-style-type: none; margin-bottom: 0; display: inline-block; } .entry ul.article-inside-link li:last-child { display: none; } Also Read : CPI Data Triggers Bitcoin : $100k Or $90k? , Positive Crypto Regulations in the US Amid Cooling Inflation Two US-themed bullish news stories have hit crypto today, causing Bitcoin to rise as high as $99.7K and altcoins to surge: Donald Trump has announced that his upcoming presidency is planning for immediate friendlier SEC rules, clearer token guidelines, and less legal… pic.twitter.com/xt8I3S5sKS — Santiment (@santimentfeed) January 15, 2025 The cryptocurrency market has gradually gained bullish momentum catalyzed by high-impact news from the United States. Ahead of the much-anticipated inauguration of pro-crypto POTUS Donald Trump, the US inflation data shows a cooling effect, thus raising optimism of a potential rate cut later this month. Meanwhile, the traction of the strategic Bitcoin reserve at the state and federal levels has gained significant momentum. Already, Texas State Senator Charles Schwertner has proposed a Bill to establish a Strategic Bitcoin Reserve soon. 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updateSubscriptionButton(); } } }); FAQs What’s up with cryptocurrency today? Cryptocurrency is up today due to a short squeeze, whale investor interest, and positive US regulations ahead of Trump’s inauguration. Why did Bitcoin go up today? Bitcoin surged over 3% due to strong bullish sentiment, a short squeeze, and institutional support, briefly crossing the $100k mark. Why is ETH going up today? Ethereum’s price is rising due to renewed interest from institutional investors and positive market trends, including growing ETF inflows.