Crypto Market Up 12% in 24 Hours: What’s Fueling the Surge in Bitcoin, Ethereum, and Dogecoin?

• The crypto market’s rise of 12% within a day was largely caused by institutional investment and improved investor feelings about the current laws.
• The GENIUS Act’s approval helped renew confidence among investors in the world of digital assets.
• An increase in spot purchases by institutions and retail traders indicates that demand may last long.

The cryptocurrency market recorded a significant upswing over the past 24 hours, gaining 12% in overall capitalization. Leading the surge were Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE), with all three posting notable gains on major exchanges. 

As of the latest data, Bitcoin was trading near $104,754 with a price increase of 2.2%. Ethereum followed suit, currently trading at $2,487.24, which is a 3.6% price increase. Dogecoin also registered a strong gain, jumping over 1.8% to trade at $0.2193 from $0.158. 

This move was particularly critical during the week’s trading and had a significant effect on worldwide markets. Experts say the spark for the bull run was mainly due to the GENIUS Act procedural vote and the active buying of coins by U.S. institutions.

GENIUS Act Vote: A Groundbreaking Development for Crypto Legislation

The approval of the GENIUS Act in a key procedural vote sparked optimism throughout the digital asset sector. To create a clear pathway for digital assets, officials introduced the “Guiding Engagement in National Innovation for U.S. Securities” Act. Some market commentators called the action “groundbreaking” and “remarkable” because it might address confusion in regulations.

By advancing this legislation, lawmakers signaled a willingness to modernize existing financial rules. Investors interpreted the development as a revolutionary step, particularly in light of recent enforcement actions against crypto firms. The bill is expected to support innovation while offering much-needed clarity on token classification and investor protections. Consequently, this exceptional progress strengthened investor confidence across major cryptocurrencies, as regulatory clarity often leads to increased institutional activity.

Spot Buying by Institutions: An Unparalleled Shift in Demand

Another key factor behind the rally involved substantial accumulation from spot investors. Reports highlighted renewed interest from U.S. institutions purchasing Bitcoin during price dips earlier in the week. These unmatched inflows were supported by strong retail participation, adding further momentum to the recovery.

Blockchain analytics firms observed wallet activity consistent with institutional-grade investment patterns, indicating high-value transactions and consistent purchase behavior. This superior level of support helped stabilize prices and shift sentiment upward. Historically, institutional entries often precede broader market rallies, and current data suggests similar dynamics are at play.

Retail investors caught the wave, using near-term price drops to layer on leverage. The two-way buying and selling created a high-yield market structure conducive to repeated bullish pressure, driving prices into multi-week highs. Analysts utilized terms such as profitable and innovative to characterize the response, with liquidity flowing into premium digital currencies.

Market Response Signals Renewed Confidence

The positive effects of new regulations and high spot market activity strengthened the mood of the market. Trading activity rose, causing the open interest in derivative markets to increase. After a week with minimal falls and no major trades, the rally has the potential to stand out as a strong reversal.

Technical indicators further showed that Bitcoin and Ethereum were both following a bullish trend. Dogecoin’s rise suggested that meme-based assets which represent interest among small traders, were back in the spotlight. Traders said that such coordinated move in top coins usually points to firmer conviction in retail as well as institutional segments.