The cryptocurrency market has seen a significant surge in recent 24 hours, with Bitcoin (BTC) breaking past the $111,000 mark. Several leading altcoins have also witnessed substantial gains, some exceeding 10% daily increases.
Following a brief dip below $104,000 at the end of last week, Bitcoin’s price has rebounded, driven by positive sentiment.
This resurgence is partly attributed to President Trump’s announcement that he will meet with Chinese leader Xi Jinping at the APEC summit in Seoul on October 31st. The meeting may pave the way for a fair trade agreement between the two global superpowers and boost market confidence.
The positive movement has boosted Bitcoin’s market capitalization to over $2.2 trillion, while its dominance over altcoins remains around 57%. Ethereum (ETH) has also benefited from the broader positive sentiment, rising by 5% and surpassing $4,000 once again, outpacing BTC in terms of gains.
Other notable altcoin performances include Chainlink (LINK), Zcash (ZEC), and Mantle (MNT), with all recording impressive gains of 10–11%. Dogecoin (DOGE), Hyperliquid (HYPE), Cardano (ADA), Near Protocol (NEAR), and numerous other cryptocurrencies are also showing positive performance.
The total cryptocurrency market capitalization has climbed to around $3.87 trillion, marking a significant increase of roughly $150 billion in just 24 hours. This surge reflects a renewed optimism within the market.