Bitcoin Rallies to $91K as Crypto Market Swells by $130B in a Day

On Tuesday, the global crypto market climbed 4.94%, buoyed by bitcoin reaching an intraday peak of $91,761. The leading digital asset has appreciated 5.1% within the past 24 hours, with the broader crypto economy expanding by $130 billion since 5 p.m. on Monday.

Bitcoin Booms, Wall Street Rebounds: Dow, Nasdaq, and S&P Ride Tuesday High

Bitcoin and the rest of the crypto economy shone brightly on Tuesday, recording gains after Sunday and Monday’s increases. Presently, at 4 p.m. Eastern time on April 22, there’s $103.64 billion in global trade volume, up 16.6% higher than yesterday. Bitcoin’s trade volume alone represents $45.73 million of that aggregate, and presently trades for $91,536 per coin at press time.

While bitcoin rose 5.1%, ethereum ( ETH) jumped 7.64%, solana ( SOL) rose 6.25%, and dogecoin (DOGE) is up 8.75% today. Bitcoin’s top trading pairs on Tuesday include tether ( USDT), USD, USDC, FDUSD, EUR, and KRW. Tether holds the day’s top trading volume, followed by BTC, ETH, USDC, SOL, XRP, FDUSD, and BNB. The meme coin turbo (TURBO) was the largest gainer as it rose 36.63% against the greenback. Other meme coins such as POPCAT and FARTCOIN rose 27.06% to 21.36%, respectively.

Some coins were thrown on Tuesday, as IP shed 5.93% and WEMIX took a 4.9% hit. GAS fell 4.47%, while FET dropped 2.63% and CORE eased 2.16%. Within the past 24 hours, crypto derivatives markets saw $347.12 million in liquidated positions on April 22, with bitcoin shorts making up $128 million of the total. Ethereum shorts followed, with more than $54 million erased. In all, 108,069 traders were liquidated over the course of the day, with the largest loss occurring on HTX, where a single BTC position was wiped out for $3.65 million.

Alongside gains in crypto assets, equities staged a strong comeback Tuesday, buoyed by optimism that U.S.-China trade tensions might soon ease, giving investors a reprieve from the sharp losses endured during the prior session. The Nasdaq soared 2.41%, adding 383.55 points to close at 16,254. The NYSE followed suit with a 2.08% climb, gaining 374.80 points to end the day at 18,407. The Dow Jones took center stage, vaulting 1,005 points—an advance of 2.63%—to settle at 39,175. The S&P 500 concluded the rally with a 2.37% rise, notching an increase of 122.31 points to finish at 5,280.

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