Cryptocurrency prices climbed sharply on Monday, with Bitcoin rising more than 2 per cent in the last 24 hours to trade at $115,423 around 12:00 WAT.
Ethereum led the gains among altcoins, soaring 6.77% to $4,196, while other major tokens — BNB, XRP, Solana, Dogecoin, Tron, Cardano, and Hyperliquid — advanced by as much as 11% during the same period.
The global crypto market capitalisation grew 3.72% to $3.89 trillion, reflecting renewed optimism and heightened trading activity.
Analysts suggest the latest Bitcoin upswing is driven by expectations of a Federal Reserve rate cut anticipated on Wednesday, alongside positive signals from U.S.-China trade negotiations.
Traders are also monitoring Bitcoin closely as it approaches the $120,000 mark, with attention turning to the upcoming release of the U.S. Consumer Price Index (CPI).
Hyperliquid recorded the largest 24-hour jump, rising 10.51%, followed by Dogecoin, which gained 5.77%. The moves highlight increasing investor appetite for alternative digital assets as traders pursue diversification and short-term opportunities.
Over the past week, Bitcoin rose 4.70%, while Ethereum advanced 4.25%. Other leading tokens — BNB, XRP, Solana, Dogecoin, Cardano, and Hyperliquid — delivered weekly gains of up to 26%, signalling the strength of the broader market rally. In contrast, Tron slipped 6.15%, standing out as the only major token to post a decline.