{"id":14229,"date":"2025-10-24T09:26:48","date_gmt":"2025-10-24T09:26:48","guid":{"rendered":"https:\/\/bitunikey.com\/news\/top-reasons-why-crypto-market-is-pumping-today-oct-24\/"},"modified":"2025-10-24T09:26:52","modified_gmt":"2025-10-24T09:26:52","slug":"top-reasons-why-crypto-market-is-pumping-today-oct-24","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/top-reasons-why-crypto-market-is-pumping-today-oct-24\/","title":{"rendered":"Top reasons why crypto market is pumping today (Oct 24)"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Several major altcoins on the crypto market are pumping in light of recent developments, as the overall market cap rises by 1.5%. Here are the factors fueling the surge<\/p>\n<div id=\"cn-block-summary-block_3af7355c15218f4be34ecd5199544de3\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>The crypto market rebounded sharply as Bitcoin stayed above $110,000, Ethereum neared $4,000, and total market capitalization rose to $3.83 trillion amid increased trading activity and reduced liquidations.<\/li>\n<li>Whale investors accumulated roughly 681,000 BTC this year, boosting institutional demand and signaling growing confidence in the market\u2019s next bullish phase.<\/li>\n<li>Investor sentiment has improved after Trump\u2019s planned meeting with Xi Jinping to ease trade tensions and his pardon of Binance founder Changpeng Zhao, signaling renewed pro-crypto momentum.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The crypto market appears to have recovered from its slump as major tokens and altcoins see a surge in trading activity following a string of events that have propelled the market forward. <\/p>\n<p>Bitcoin (BTC) has managed to sustain itself above the $110,000 mark after days of slipping below $108,000. Meanwhile, Ethereum (ETH) is nearing $4,000 as it climbs 1.78% in the past 24 hours.<\/p>\n<p>Solana (SOL) is also nearing $200 as it rises by 2.2%, while BNB (BNB) has been gradually climbing by 1.1% following Binance founder Changpeng Zhao\u2019s pardon. Dogecoin has continued its upward trend of 4.6% in the past week, having increased by 1.1% in the past day alone.<\/p>\n<p>Smaller altcoins like ORDER, ASTER (ASTER) and ZEC (ZEC) have also seen gains ranging from 10% to more than 50% in the span of a day. According to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/\" target=\"_blank\" rel=\"nofollow\">Coinglass<\/a>, total open interest has increased by 3.41% to as much as $154.53 billion. On the other hand, liquidations have fallen by 57.2% to around $223.37 million, dominated by short positions.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Crypto market cap has risen by 1.5% to $3.8 trillion in the past 24 hours | Source: <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coingecko.com\/en\/charts\" target=\"_blank\" rel=\"nofollow\">CoinGecko<\/a><\/figcaption><\/figure>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The overall crypto market cap has surged by 1.5% from around $3.75 trillion to $3.83 trillion. The Crypto Fear &amp; Greed <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/pro\/i\/FearGreedIndex\" target=\"_blank\" rel=\"nofollow\">Index<\/a> ticked up four points to 31. Even though market sentiment remains in \u2018fear\u2019 zone, it is inching closer to \u2018neutral\u2019 territory.<\/p>\n<p>Here are the top three reasons why the crypto market is on a rally right now:<\/p>\n<h2 class=\"wp-block-heading\">Dolphins and whales pumping the crypto market<\/h2>\n<p>According to the CryptoQuant weekly <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/research\/68fa48e069a00919b9cffad7-23-October-2025-Late-Stage-Accumulation-What-On-Chain-Data-Reveals-About-Bitcoin?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=research&amp;utm_content=crypto-weekly-report\" target=\"_blank\" rel=\"nofollow\">report<\/a> analysis, dolphin addresses currently hold about 5.16 million BTC. The amount accounts for 26% of the total circulating supply of Bitcoin, making them one of the largest influencers of BTC price movements. Much like whales, dolphins are essentially ETFs, corporations and other large holders.<\/p>\n<p>The report shows that in 2025 alone, large addresses have cumulatively increased their holdings by about 681,000 BTC, while other address groups have shown a net reduction. This indicates a trend of institutional investors absorbing the selling pressure from retail investors.<\/p>\n<p>Most recently, on-chain analysts <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/insights\/research\/68fa48e069a00919b9cffad7-23-October-2025-Late-Stage-Accumulation-What-On-Chain-Data-Reveals-About-Bitcoin?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=research&amp;utm_content=crypto-weekly-report\" target=\"_blank\" rel=\"nofollow\">detected<\/a> an uptick in whale activity, with more long positions popping up on Bitcoin and other tokens. Whales going long is often considered a sign that the market is gearing up for a bullish rally.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\">U.S and China trade tensions cool off<\/h2>\n<p>After weeks of heated trade tensions between the U.S and China, market traders breathed a sigh of relief after the White House confirmed that Trump and Xi Jinping are due to <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/cjw9vy19qvgo.amp\" target=\"_blank\" rel=\"nofollow\">meet<\/a> in South Korea amidst fears of a trade war between the two nations.<\/p>\n<p>The crypto market has suffered from persistent pressure this month amid escalating U.S. and China trade tensions. Earlier in October, Trump\u2019s threat to impose 100% tariffs on Chinese imports, coupled with Beijing\u2019s curbs on rare-earth exports, sparked a $19 billion liquidation across crypto markets which triggered a wave of crypto market crashes.<\/p>\n<p>The confirmation that both leaders are due to meet face-to-face in hopes of settling the trade disputes have lifted investor sentiment. Following the news, traditional market have bounced back with Dow Jones rising by 0.31% and Nasdaq seeing a 0.89% increase. The crypto market appears to have mirrored this rebound.<\/p>\n<h2 class=\"wp-block-heading\">Trump pardons Binance founder and declares the end of \u2018war on crypto\u2019<\/h2>\n<p>On Oct. 23, President Trump pardoned Binance Founder Changpeng Zhao after he was imprisoned under the Biden administration. White House press secretary Karoline Leavitt confirmed the news and said that \u201cThe Biden administration\u2019s war on crypto is over.\u201d <\/p>\n<p>The move has strengthened pro-crypto sentiment under the new administration as Trump promises to transform the United States into the crypto capital of the world. Zhao\u2019s official pardon also comes at a time when Binance is considering a comeback to the U.S markets as it is in talks with the Department of Justice to end its court-appointed compliance monitoring agreement ahead of schedule.<\/p>\n<p>On a wider scale, the move could potentially restore Zhao\u2019s standing in the U.S and ease regulatory pressure on crypto exchanges. Such a decision could propel pro-crypto signals further into the fourth quarter of the year.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Several major altcoins on the crypto market are pumping in light of recent developments, as the overall market cap rises by 1.5%. Here are the factors fueling the surge Summary&hellip;<\/p>\n","protected":false},"author":1,"featured_media":13171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=14229"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14229\/revisions"}],"predecessor-version":[{"id":14230,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14229\/revisions\/14230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/13171"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=14229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=14229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=14229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}