Bitcoin Surges to $119K as Crypto Market Value Hits $4.3T
- The global crypto market cap soared to $4.32 trillion with daily trading at $101B.
- Bitcoin reached $119K and Ethereum climbed to $4404 while altcoins gained momentum.
- The Altcoin Season Index stood at 66, showing a growing appetite for tokens beyond BTC.
The global cryptocurrency market surged today, with Bitcoin climbing to $118,708, according to CryptoRank. The rally pushed the market capitalization to $4.32 trillion, representing a gain of over $160 billion in a single day. Ethereum gained momentum, rising 6.54% to $4,404, while Bitcoin surged 3.78%. High-volume trades of $101 billion occurred, signalling broad market participation in key cryptocurrencies, with a 13.7% increase.
Source: X
Bitcoin and Ethereum Lead Market Growth
Ethereum dominance rose to 12.3%, while Bitcoin dominance fell to 54.7%. Stablecoins USDT and USDC maintained a high market share, facilitating the transfer of liquidity during exchange operations. CryptoRank confirmed the Fear and Greed Index status at 64, indicating a state of greed. Market liquidations totalled $601 million, suggesting that volatility levels persisted despite the uptrend.
The prominent altcoins also recorded great activity. Solana, BNB, ADA, DOGE, and TRX maintained a high degree of activity, indicating that investors were diversifying into the best-performing assets. Meanwhile, small-cap tokens shot up. HyprSwap shot up by an outstanding 80.6% to $0.0127, with a market cap of $11.1 million. ComAI rose 40.8% to $0.379, while Plugs and Light advanced over 20%.
Large-cap performers included Zcash, which surged 48.9% to $139.51, supported by a $2.25 billion valuation. Maker climbed 23.8% to $1,268, Monero added 22.9% to $169.62, while Decred and EOS gained 19.7% and 19.2%, respectively.
Altcoin Season Index Shows Stronger Shift
The CMC Altcoin Season Index reached 66, indicating a stronger rotation into altcoins. Yesterday’s level was 62, last week’s 70, and last month’s 50. Historical highs reached 87 on December 4, 2024, while lows were recorded at 12 on April 26, 2025.
In the last 90 days, the altcoin market capitalization fluctuated between $1.2 trillion and $1.8 trillion. The charts showed a steady rise beginning in July, indicating investors’ preference for altcoins as Bitcoin’s dominance declined. Analysts were of the view that the total market cap of altcoins was approaching levels never seen since 2021.
Source: Altcoin Index
According to Daan Crypto Trades, a cryptocurrency trader, altcoins appear strong; however, a clear breakout is still needed. He said specific tokens could indeed outperform, yet he warned against anybody claiming that a full altcoin season is at this stage.
Related: Altcoins Lead Q3 2025 Crypto Performance, Outpacing Bitcoin
Broader Market Expansion Signals Investor Momentum
CoinGecko data confirmed the global cryptocurrency market cap at $4.17 trillion, with a 1.8% increase over the past 24 hours. Daily trading volume reached $189 billion. Bitcoin’s share stood at 56.7%, while Ethereum maintained a 12.7% share. CoinGecko tracked more than 19,005 cryptocurrencies, marking the market’s growing breadth.
Ecosystem projects led to recent gains. The Polkadot ecosystem and the XRP Ledger ecosystem recorded the strongest momentum, reflecting vigorous activity in blockchain infrastructure development.
Funding flows supported the market backdrop. Ethena raised $30 million; BaseVol got $3 million, and Bastion Asset Management was preparing an unannounced round. These events demonstrated continued institutional interest despite volatility.
As October unfolds, traders are watching the deadline for the ETF, arguably accelerating the choice of altcoin. Since Bitcoin is the macro hedge, Ethereum is supported, and altcoins are rising, one question remains: is the market ready for the next big breakout?
