- Bitcoin breaks $109K as US investor demand and whale activity fuel bullish momentum.
- Ethereum surges post-Pectra upgrade, slashing rollup costs by 100,000x and boosting scalability.
- TAO, INJ, and DOT ride high on institutional moves and major technical developments.
The cryptocurrency market has kicked off the new week on a high, as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Bittensor (TAO), Injective (INJ), and Polkadot (DOT) are posting solid gains across the board. The broad-based momentum has pushed the total crypto market capitalization up 4% to $3.42 trillion, signaling a strong return of bullish sentiment.
Bitcoin (BTC) Hits $109K
Bitcoin surged 4% over the past 24 hours, reaching a high of $109,418.45, a level that reflects growing institutional interest, especially from US investors.
Analyst Crypto Dan pointed to the steadily increasing Coinbase Premium, a key indicator of American buying pressure, as evidence of this trend, and noted the presence of whale accumulation.
“This is a classic post-correction rally pattern,” Dan remarked, highlighting that there are no signs of overheating yet. The trend may signal further bullish momentum heading into the second half of 2025.
Ethereum (ETH) Soars 8%
Ethereum outperformed the market with an 8% rally, briefly reclaiming the $2700 level. The recent Pectra upgrade, which includes EIP-7691, has revolutionized Ethereum’s data handling with the introduction of blob transactions —ephemeral, cost-efficient data slots that have slashed daily blob fees from $16,000 to fractions of a cent.
With rollup capacity effectively doubling and only 67% of that capacity currently utilized, Ethereum’s infrastructure is now capable of supporting much broader adoption.
Related: Altcoins Bounce Back: ETH, ADA, SOL, and More Enter Key Buy Zones
Solana (SOL) Targets Mid-Bollinger Breakout at $162
SOL is up 5%, trading at $158.99, with technical indicators suggesting potential further upside. The Relative Strength Index (RSI) sits at a neutral 50, while price action is closing in on the middle Bollinger Band at $162.31. A breakout above this resistance level could trigger renewed bullish momentum.
Source: TradingView Other Altcoins Post Major Gains
The rally’s depth is evident in the strong performance of other key altcoins, each driven by specific catalysts:
Bittensor (TAO) Gains 10%
TAO jumped 10% to $426.64 after Oblong, a Nasdaq-listed IT solutions provider, announced a $7.5 million private stock sale to support its expansion into Bittensor’s decentralized AI ecosystem. The funds will go toward acquiring TAO tokens and contributing to Subnet 0, a key component of Bittensor’s network that facilitates AI model exchange and data monetization.
Oblong’s CEO emphasized that decentralized AI represents the next frontier of digital innovation, drawing comparisons to the early days of Bitcoin and Ethereum.
Injective (INJ) Up 3.71%
INJ rose 3.71% to $13.60, driven by news that Canary Capital has registered a statutory trust in Delaware for a proposed Staked INJ ETF. The ETF would track INJ’s price and include staking rewards—a novel concept that could open the door to wider investor participation.
Although no official SEC filings are public yet, the trust registration marks the first formal step toward potential ETF approval, bringing additional legitimacy and visibility to the Injective ecosystem.
Related: Why SUI’s Rapid Growth Makes It a Key Player in the Upcoming Bull Cycle
Polkadot (DOT) Eyes Expansion
Polkadot saw nearly a 4% increase, trading at $4.14 after a clean technical bounce from support near $3.85. According to analyst PrestitoCrypto, DOT is “ready for liftoff” with price targets stretching as high as $5.50 in June.
The recent launch of the new Polkadot SDK—a modular toolkit enabling custom rollups, app-chains, and parachains—has reinvigorated the project’s appeal. Already powering projects like KILT and Zeitgeist, the SDK reinforces Polkadot’s cross-ecosystem flexibility, fueling bullish sentiment around its future.
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