Bitcoin Nears $100K as Crypto Market Rallies—Institutions Take the Lead

The crypto market is back in positive territory, with renewed momentum lifting prices across major assets. On Thursday morning (UTC), total crypto market capitalization rose 1.1% to $3.37 trillion, while trading volume reached a robust $166 billion. Sixty of the top 100 cryptocurrencies posted gains over the past 24 hours, signaling a broad—though not uniform—recovery.

Bitcoin is once again leading the charge, pushing the market higher and reigniting optimism after weeks of cautious consolidation.

Bitcoin (BTC) climbed 2.2% over the past day, trading around $97,053 and briefly touching levels near $97,800—its highest point in almost two months. Ethereum (ETH) followed with a 1.1% gain to $3,367, continuing its strong weekly performance.

Among the top 10 cryptocurrencies by market capitalization, eight posted gains. Solana (SOL) lagged with a modest 0.1% increase to $145, while Dogecoin (DOGE) and XRP slipped lower. DOGE fell 2.4% to $0.1447, and XRP declined 1.6% to $2.11.

Zooming out to the top 100, 60 coins are in the green today, down from 95 yesterday—suggesting the rally is becoming more selective.

Provenance Blockchain (HASH) emerged as the standout performer, surging 20.5% to $0.02652. Internet Computer (ICP) followed with an 11.2% gain to $4.21. A handful of other tokens advanced between 6% and 7%, while most gains remained under 2%.

On the downside, Canton (CC) dropped 8.3% to $0.1301, and Pepe (PEPE) slid 8.1% to $0.000006108, making them the day’s weakest performers.

Market analysts say the current rally looks fundamentally different from past speculative surges. Antonio Di Giacomo, Senior Market Analyst at XS.com, noted that Bitcoin’s move has restored positive sentiment, even as broader risk assets show mixed performance.

“Bitcoin has once again moved to the centre of financial attention,” he said, adding that it now acts as a barometer for innovation appetite and alternative hedging strategies.

A major catalyst behind the move was a 13,600 BTC purchase by Strategy—its largest acquisition since July 2025—cementing its status as the world’s biggest corporate Bitcoin holder. According to analysts, the message was clear: institutional conviction remains strong.

However, enthusiasm is not evenly distributed. Retail participation, particularly in the U.S., appears muted. This suggests the rally is being driven more by technical factors and long-term institutional capital allocation rather than emotional or speculative buying.

Adding to the bullish narrative, BitMEX co-founder Arthur Hayes said Bitcoin could reach new all-time highs in 2026. He argued that BTC underperformed in 2025 due to constrained dollar liquidity, while assets like gold and the Nasdaq continued to rise.

“Dollar liquidity must expand” for Bitcoin to outperform, Hayes said—implying macro conditions could soon tilt back in crypto’s favor.

Bitcoin is currently holding above critical support. If it maintains the $95,700–$95,200 demand zone, the bullish structure remains intact. A breakout above $98,800 could open the door to a test of the psychologically important $100,000 level.

Ethereum has been more volatile intraday but remains strong overall. ETH is trending toward $3,400, and holding above that level could set up a move toward $3,500 and eventually a renewed push for $4,000.

Over the past week, ETH has gained 8.4%, outperforming Bitcoin’s 7.7% rise.

Institutional appetite is also visible in ETF flows. U.S. Bitcoin spot ETFs recorded a third consecutive day of inflows, adding $843.62 million—the highest level since early October. Total net inflows now stand at $58.12 billion, with BlackRock leading the pack at $648.39 million.

Ethereum ETFs also saw strong demand, pulling in $175 million in a single day and lifting total net inflows to $12.74 billion. Once again, BlackRock and Grayscale dominated the inflow charts.

Crypto market sentiment continues to improve. The Fear and Greed Index rose to 54 from 52, moving further into neutral territory and away from fear. While optimism is building, analysts still view the market as being in a consolidation phase rather than a full-blown bull run.

Robinhood CEO Vlad Tenev also weighed in on regulatory headwinds, criticizing U.S. lawmakers for ongoing gridlock that keeps crypto staking unavailable in four states—despite strong user demand.

Bitcoin’s climb toward $100,000 and massive ETF inflows suggest a market increasingly powered by institutions rather than retail hype. While enthusiasm isn’t universal, the current structure appears more resilient and less speculative than in past cycles. If institutional support persists—and retail eventually follows—the groundwork for the next major crypto rally may already be forming.