Bitcoin (BTC) has regained its $106,000 threshold after a 2% price rise in the last 24 hours, while Ethereum (ETH) and XRP outperformed daily growth of 3.5% and 5%, respectively.
Bitcoin recently experienced an 8% revision since its all-time high of $112,000, registered on May 22.
Bitfinex’s recent report believes that the correction to the Court of Appeals’ ruling on US import duties would exceed 5% for the first time in nearly 16 years, with the Treasury yield in 30 years.
Given that tariff-related decisions undermine crypto prices, the recent suspension of US tariffs directed on Chinese products selected until August 31 could be responsible for today’s price rise.
The S&P 500 has increased by 0.6% and Nasdaq has increased by 0.8%, so momentum is reflected in other risky assets as well.
Outperformance of major altcoins
Ethereum has leveraged its recent tail wing to reclaim the $2,600 zone that was lost on May 30th following the Bitcoin move. The current price is $2,622.60, and ETH is up 89% from the annual low of $1,385.51 registered on April 9th.
Bitcoin was pulled back to just $105,000 a night after peaking at $106,700, but Ethereum retained the profits. Last week, Ethereum won 5.5% in Bitcoin.
Furthermore, Ethereum has a great interest from the institutions. Last week, ETH-related funds led to an influx. Total of $321.4 million.
Data from far side investors reveals cumulative flows regarding the US-trading Spot Ethereum Exchange Trade Fund (ETF) Over 3 billion dollars First time on May 30th.
XRP also performed strong among the largest cryptocurrencies by market capitalization, reaching $2.28 after a price surged daily at 5% before retrosing along with Bitcoin.
Recently, data from Santiment highlighted the association of XRP upward momentum.. As 90% of XRP supply is profit, this Performance is only behind Bitcoin.
Institutional interest in XRP as a corporate reserve asset has also begun to surface. Last week, Chinese AI-powered mobility company Webus International announced plans Adding $300 million to XRP To the Ministry of Finance.
The plan also includes using XRP for payments to remove exchange friction for international travel.
In the same week, International EV Battery Company Vivopower announced that investors had agreed to a private funding of $121 million to fund the company’s transition. XRP-centric financial platform.