The cryptocurrency market experienced a rapid surge over the last few days. Bitcoin (BTC) is currently testing the $105,000 level. The rally over the last few days was much needed to boost investor sentiment. While the rally was welcome, the crypto market faced a slight correction on Monday, May 12. The global crypto market has dipped 2% in the last 24 hours to $3.46 trillion.
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Cryptocurrencies Hit Double-Digit Rallies
The crypto market experienced one of its most bullish outbreaks over the last few days. Many projects saw double-digit percentage point rallies. Ethereum (ETH) has risen by more than 40% in the weekly charts. The rally could be due to ETH’s Pectra Update.
The cryptocurrency market rally could also be due to several trade agreements coming to fruition with the US. Investors may be feeling a surge in confidence.
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There is also a possibility that the Federal Reserve will cut rates after its next meeting. A rate cut could also lead to a surge in risky investments.
Top 3 Cryptocurrencies That Could Hit New All-Time Highs This Week
1. Bitcoin (BTC):
BTC is the market leader. Other cryptocurrencies will most likely not rally unless BTC does. The original crypto is down by only 4.4% from its all-time high. There is a high probability that BTC will breach its previous peak sometime this week.
2. Binance Coin (BNB):
BNB is another cryptocurrency that is making a comeback. The asset is down by 16.8% from its all-time high of $788.84. If BTC hits a new peak, BNB may also follow suit.
3. Ripple (XRP):
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Ripple’s XRP token still has quite a journey to its peak of $3.40. The asset has to rally by 29.3% to reclaim its previous high. While the cryptocurrency may require a substantial push, XRP has had quite a bullish year in 2025. BTC hitting a new peak could trigger a big rally for XRP.
