by Coinstrooper Crypto Articles
Quick Take
  • Also, 90 of the top 100 coins posted price increases.
  • The total crypto trading volume stands at $128 billion.
  • On Wednesday morning (UTC), 9 of the top 10 coins per market capitalisation have seen their prices appreciate.
  • Bitcoin (BTC) increased by 1.7%, currently trading at $89,419.

What Happened

Meanwhile, Bitcoin jumped in early Asia trade as well, initially seeing a choppy open. Investors have since focused on US earnings and discussions on more funding for OpenAI.

Bitwise Chief Investment Officer Matt Hougan recently said that crypto markets now have a critical three-year window to prove their real-world utility. Otherwise, the ongoing legislative uncertainty in the US could halt industry momentum.

Nic Puckrin, investment analyst and co-founder of Coin Bureau, argues that BTC needs the move above the $100,000 mark.

Market Context

The crypto market is up today. After sitting on the boundary between appreciation and drop yesterday, unchanged over the previous day, the cryptocurrency market capitalisation saw the green prevail, rising 2.2% over the past 24 hours. It now stands at $3.12 trillion. Also, 90 of the top 100 coins posted price increases. The total crypto trading volume stands at $128 billion.

On Wednesday morning (UTC), 9 of the top 10 coins per market capitalisation have seen their prices appreciate.

Bitcoin (BTC) increased by 1.7%, currently trading at $89,419. This is the smallest green percentage in the category.

Among the best performers is Binance Coin (BNB), which increased by 3.4%, now trading at $905.

At the same time, the only fall among the top 10 is 0.7% by Tron (TRX), now trading at $0.2921.

Furthermore, of the top 100 coins per market cap, 90 have posted price increases today.

On the red side, at the top, we find River (RIVER). It’s down 9.3% to the price of $54.55.

ETH Trading In a Key Zone

“If, at the end of three years, we’re all using stablecoins and trading tokenized stocks, we’ll get positive crypto legislation regardless of who is in charge,” Hougan wrote. “But if crypto is instead still operating on the edges, a change in Washington could be a huge setback.”

Glassnode analyst Chris Beamish wrote on Twitter that ETH is trading in a breakeven zone for many holders.

“Holding here suggests absorption and base building,” Beamish writes. A breakdown, however, “would move price into thinner support where underwater supply may derisk.”

A new all-time high in 2026 isn’t out of the question yet, Puckrin says, but “the next 30 days will be crucial in determining whether a bear market is already here.”

Why It Matters

Crypto Winners & Losers

Ethereum (ETH) appreciated just 3.8%, changing hands at $3,020. This is the category’s second-highest jump.

Details

Hyperliquid (HYPE) is the day’s highest gainer, posting the category’s only double-digit rise of 25.3% to $34.62.

Canton (CC) follows with a 9.4% increase to $0.1655.

Provenance Blockchain (HASH) follows, falling 7.6% to $0.02531.

The rest are down 3% and less per coin.

Notably, he argues that this is a key level on which the next move depends.

“The longer Bitcoin remains under $100,000, the more momentum will trend to the downside,” he writes in a comment.

Levels & Events to Watch Next