Bitcoin has surged back above the $100K mark, driving the cryptocurrency market cap to nearly $3.7 trillion. After dipping to $98,000 on Friday, Bitcoin experienced a strong rebound, following news of U.S. president-elect Donald Trump’s appointment of David Sacks as his artificial intelligence and crypto czar—a move that highlights the administration’s focus on advancing these rapidly evolving industries.
As of now, the global crypto market cap stands at $3.66 trillion, reflecting a slight 0.99% decrease over the past 24 hours. Trading volume for the crypto market during this period dropped 42.11% to $174.15 billion. The decentralised finance (DeFi) sector represents $17.53 billion of that volume, accounting for 10.07% of the total, while stablecoins make up 92.75% of the 24-hour volume, totaling $161.53 billion.
Bitcoin (BTC-USD) is currently trading at $101,830, just shy of its all-time high of $103,900 reached on Thursday. The cryptocurrency's 24-hour trading volume has decreased by 22% to $111.3 billion, but it is still on track to post a weekly gain of over 4%. Ethereum (ETH-USD) also saw a significant rise, climbing 6.5% to $4,061, marking a 13% increase for the week.
Other notable cryptocurrencies also saw gains: XRP (XRP-USD) rose 4%, Solana (SOL-USD) added 2.8%, and BNB (BNB-USD) jumped 4.2%. Dogecoin (DOGE-USD) increased by 1.8%, and Cardano (ADA-USD) climbed 3.6%.
Meanwhile, the U.S. 10-year Treasury yield closed at 4.149%, easing slightly from the previous day's 4.179%, while the five-year yield dropped to 4.032% from 4.076%.
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