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.