The global crypto market is showing strong momentum today, with total market capitalization climbing 2.11% to $3.83 trillion. Bitcoin, Ethereum, and other top altcoins are all trading higher after weeks of uncertainty.
**Market Overview**
Bitcoin rose 2.34% in the past 24 hours, now trading around $113,734. This uptick is supported by a rebound in institutional inflows and improving investor sentiment. Ethereum gained nearly 3%, crossing $4,089, while XRP is up more than 2% at $2.51. Solana remains one of the strongest performers, climbing over 4% to $197.
**Fed’s “Payment Accounts” Discussion Takes Center Stage**
One of the key drivers behind today’s rally is the Federal Reserve’s Payments Innovation Conference in Washington, D.C. The Fed is reportedly exploring a new “payment account” model. This would allow fintech and crypto companies limited access to Fed payment systems without requiring full banking licenses.
This move is seen as a major step toward bridging traditional finance with blockchain-based payments. The event includes participation from major financial and crypto firms such as BlackRock, Chainlink, Coinbase, Google Cloud, BNY Mellon, Circle, ARK Invest, and Stripe.
Analysts suggest this discussion could mark a turning point for the industry. Increased regulatory clarity and enhanced access to U.S. financial infrastructure would strengthen trust in digital assets.
**CPI Expectations and Rate Cut Hopes**
Macroeconomic factors are also contributing to the market’s rise. Traders are expecting a soft Consumer Price Index (CPI) reading later this week, which could encourage the Federal Reserve to consider rate cuts of 50-75 basis points by the end of the year.
A lower inflation rate would generally lead to reduced borrowing costs, making risk assets like crypto more attractive. This could potentially trigger the next wave of an altcoin rally as liquidity improves across the market.
With Bitcoin holding support levels and institutional interest growing, the market appears to be entering the early stages of an altcoin bull phase. The combination of Fed innovation, diplomatic progress, and easing inflation expectations could set the stage for a broader market rally in the coming weeks.
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