Why Crypto Market Is Up Today: Latest News Behind the Bull Run

Why Crypto Market Is Up Today: Bitcoin, BNB, and Ethereum Lead Rally

Why is the crypto rallying again? The global crypto market cap today stands at $4.37 trillion, up 0.7% in 24 hours, with daily trading volume at $202 billion. Bitcoin dominance is 56.7%, and Ethereum dominance is 12.9% 

As October unfolds, digital assets are hitting fresh highs, investor confidence is rising, and macroeconomic factors are aligning in crypto’s favor. Here’s a complete breakdown of why crypto market is up today.

Bitcoin and BNB Lead the Surge with New All-Time Highs

Bitcoin (BTC) smashed past $126,000, setting a new all-time high, before stabilizing at $124,364.77. Its market cap is $2.47 trillion with $67.97 billion in 24-hour volume. Whale activity is driving this rally — over 60,000 BTC were bought in the last week alone, boosting BTC over 10% weekly.

Source: CoinMarketCap 

BNB followed suit, hitting a record $1,295.06 and now trading at $1,291.71, supported by a market cap of $179.84 billion and daily volume of $6.74 billion. This dual breakout has set a bullish tone across the landscape.

Ethereum Nears ATH and Altcoins Join the Party

Ethereum (ETH) surged 2.6% in 24 hours and 12% in a week, currently priced at $4,694, just 5% away from its ATH of $4,953.73. Its market cap stands at $566.58 billion with $46.3 billion daily trading volume — signaling strong institutional interest.

Top gainers are also fueling momentum:

Source: CoinGecko 

• Doodles (DOOD) jumped 87% intraday, trading at $0.01264 with $294.5 million daily volume.

• CZ’s Dog (BROCCOLI) spiked 77%, trading at $0.06138.

• SOON token surged 60%, hovering around $0.8007 with $414.8 million in volume.

Liquidations, Sentiment, and Macro Events Add Fuel

The rally is shaking up leveraged positions. In the past 24 hours, 140,524 traders were liquidated, totaling $354.76 million. The largest single liquidation was on Binance’s ETHUSDT pair worth $4.57 million.

Source: CoinGlass

The Fear & Greed Index sits at 70 (Greed), up sharply from last month’s 44 (Fear), confirming the sector's risk-on appetite.

On the macro side, the U.S. Government Shutdown has entered its sixth day, causing broader economic uncertainty. Meanwhile, the next FOMC meeting on October 29 looms large. Markets are pricing in a 92% probability of a 50 bps Fed rate cut from the current 400–425 bps, a scenario historically bullish for assets as liquidity conditions ease.

Conclusion

The combination of Bitcoin & BNB all-time highs, Ethereum strength, altcoin rallies, high liquidation volumes, and looming Fed rate cuts explains why the crypto market is up today. If macro tailwinds persist through late October, it could cross the $4.4 trillion cap and enter a decisive new bullish phase.

Disclaimer: This is for educational purposes only. Always do your own research before any investment.