A crypto rally has emerged today, with Bitcoin and most altcoins being in the green. Bitcoin price crossed the important resistance level at $95,000 for the first time in months, while the market capitalization of all tokens soared to over $3.2 trillion.
The best gainers were coins like Dash, which jumped by over 50% in the last 24 hours, with its volume soaring to $1.01 billion. Pepe Coin price rose by 16%, with its volume nearing $1 billion, while Internet Computer (ICP) soared by 14%. The other gainers were Story (IP), Optimism (OP), and Starknet (STRK).
The crypto rally happened as volume jumped by 41% to over $142 billion, and the futures open interest jumped to $140 billion.
Crypto Rally Happens Ahead of CLARITY Markup
The ongoing crypto rally is happening as regulations in the United States improve. For example, the US passed the GENIUS Act in 2025, creating the rules that stablecoin issuers need to follow in the country.
The Senate Banking Committee released the text of the CLARITY Act on Tuesday ahead of the markup on Thursday. Markup is a process where a bill is ready and revised in the committee before it moves to the Senate. Most analysts believe that the bill will be passed in the coming weeks and that Donald Trump will sign it into law.
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Bitcoin Price Moved Above a Key Level
The other reason why the crypto market rally is happening is based on our Bitcoin price prediction. In our report, we noted that the coin was slowly forming the highly bullish ascending triangle pattern, which is made up of a horizontal resistance and an ascending trendline.
In this case, the horizontal line was at $124,500, a level that Bitcoin passed overnight, confirming the bullish outlook. Therefore, there is a likelihood that it will jump to the next key resistance level at $100,000 in the near term.
Bitcoin normally sets the tone in the crypto industry, and altcoins tend to do well whenever it is rising. They also crash deeper whenever Bitcoin drops a bit.
Rising Fear and Greed Index
Another reason why the crypto rally is happening is that investors are embracing a risk-on sentiment, especially after the latest inflation report, which showed that the core Consumer Price Index (CPI) dropped in December.
Data shows that the Crypto Fear and Greed Index moved from the extreme fear zone of 10 in December to the current neutral point at 52. There are signs that it will move to the greed zone of 60 soon.
Crypto prices tend to rally when the gauge is moving from the fear zone to the greed one, and then start falling whenever it moves to the extreme greed zone.
The next key catalyst for the crypto rally will come from the Supreme Court, which will deliver its ruling on Donald Trump’s tariffs later today. Most analysts believe that the court will decide that the tariffs were made illegally, a move that would, in theory, lead to higher prices.
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