The crypto market has clearly picked up momentum: on Wednesday evening, Bitcoin reached a weekly high just below the $70,000 mark, gaining around 5% on the day. Total market capitalization also rose by roughly 5% over the past 24 hours.
The move was driven by a noticeable improvement in risk sentiment across global markets. Strong corporate results—most notably from chipmaker Nvidia, which reported quarterly revenue of $68.1 billion—supported gains in both equities and cryptocurrencies.
Additional support once again came from spot Bitcoin ETFs. According to market data, they recorded net inflows of $257.7 million on Tuesday, ending a five-week streak of outflows totaling $3.8 billion. Fidelity saw inflows of about $83 million, while BlackRock’s iShares Bitcoin Trust attracted roughly $79 million.
Altcoins also benefited from the rebound, with Ethereum, Solana, Cardano, and Dogecoin posting double-digit gains in some cases. Shares of crypto-related companies such as Coinbase, Strategy, and Circle also rose sharply.
However, despite the strong rebound, it is still too early to call a full trend reversal. The current upswing looks more like a relief rally after weeks of sustained selling pressure than the start of a durable uptrend.
