Crypto Market Soars: Why Bitcoin’s Price Surge Is Pushing Prices Up Today

The cryptocurrency market is experiencing a significant surge today, May 8th, with key drivers attributed to Bitcoin’s bullish movement and increased demand from institutional investors. On-chain data reveals that whales are actively investing in undervalued altcoins, while the total crypto market cap has climbed over 4 percent in just 24 hours to reach about $3.25 trillion. Bitcoin (BTC) prices have surged over 5 percent to hit a new all-time high of $101,784, while the broader altcoin market saw double-digit gains fueled by memecoins.