The cryptocurrency market experienced a dramatic upward surge recently, with a notable increase in both market capitalization and trading volume. According to CoinMarketCap, the overall market cap stands at $2.6 trillion after a 5.84% jump within just 24 hours. This remarkable growth has sparked widespread interest from investors and observers alike. What is driving this recent rise? Several factors have contributed to this positive momentum: 1) A recent shift in US trade policy: President Trump announced a temporary pause on tariffs against China, granting reprieve for numerous nations. This move generated significant market uncertainty but initially offered a breath of fresh air for the crypto community. 2) The appointment of Paul Atkins as new SEC head: The arrival of well-known pro-crypto advocate Paul Atkins as the SEC chairman marks a significant milestone for the digital asset sector. His vision for clearer regulations and fewer restrictions on cryptocurrencies is expected to boost investor confidence in the market. 3) Increased Liquidity: Coinglass reports that over 130,000 traders were liquidated within the past 24 hours, totaling $483.49 million. These significant price swings, as indicated by green heatmaps, point towards a more bullish sentiment among investors. The US CPI Inflation Data release is anticipated today. Analysts predict an increase in the rate to 0.3%, which could potentially fuel further market growth, or lead to a decline. However, uncertainties surrounding China’s response to US tariffs and Trump’s continued unpredictable actions remain factors that may influence the market trend. It’s imperative for investors to carefully monitor these developments as they shape the near-term trajectory of this dynamic sector.