Crypto Market Sees $25.9B Surge as Bitcoin Briefly Tops $105K, Virtuals Protocol Leads Altcoin Rally
The cryptocurrency market saw renewed optimism over the past 24 hours, with Bitcoin (BTC) briefly soaring past $105,000 and the total crypto market capitalization climbing by nearly $26 billion. The surge sparked investor interest, while some took the opportunity to lock in profits, leading to volatile swings across the board.
Bitcoin’s Ascent and Market Momentum
Bitcoin’s price reached as high as $107,108 during intraday trading before settling around $104,613. Although it failed to maintain the local peak, the world’s largest cryptocurrency remains within 5% of its all-time high of $109,588—an encouraging sign for bullish investors.
The broader crypto market cap mirrored Bitcoin’s rally, touching $3.31 trillion before easing back to $3.25 trillion. This intraday rise reflects strong buying activity, though analysts caution that sustained momentum depends on whether the market can hold above the $3.28 trillion support level. If not, a dip toward $3.16 trillion may follow, potentially shaking investor confidence.
Altcoins Show Strength: Virtuals Protocol Leads
Amid Bitcoin’s headline-grabbing climb, some altcoins also delivered impressive gains. Notably, Virtuals Protocol (VIRTUAL) surged nearly 14% over the past day, trading at $1.92. Despite falling just short of flipping the key $2.00 resistance level into support, investor sentiment around VIRTUAL remains optimistic.
A successful reclaim of the $2.00 threshold could set the stage for a further rally toward $2.26. Technically, a bullish Golden Cross—formed by the exponential moving averages 10 days ago—supports the case for upward continuation. Still, analysts warn that a failure to hold ground could see the token retreat to $1.59, testing the strength of its recent gains.
Regulatory Watch: Asset Forfeiture in Australia
In related news, the Australian Federal Police confiscated assets worth $2.88 million—including 25 BTC, a luxury home, and a Mercedes-Benz—from a Queensland man. The seizure followed a criminal investigation linking the assets to illicit activity, highlighting ongoing global regulatory scrutiny in the digital asset space.
Stablecoins Gaining Ground in Institutional Finance
Separately, a new industry report has underscored the growing role of stablecoins in mainstream finance. According to the “2025 Stablecoin Status Report,” 90% of financial executives are either actively using or testing stablecoins for their operational benefits—chief among them: faster settlement times, fewer regulatory hurdles, and rising customer demand. Fireblocks, a major infrastructure provider, now processes about 15% of global stablecoin volume, further cementing their position in the future of finance.