Crypto Market Cap Surges Past $3T—Altcoins Finally Wake Up

The crypto market hits a 6-week high as altcoins scramble to join the party. Bitcoin’s little siblings are finally catching up—just in time for the next rug pull. Active traders pivot to ETH and BNB chains while Wall Street ‘experts’ scramble to explain the rally. Remember: in crypto, gravity always wins—but not today.

Altseason Yet?

Bitcoin still led the pack, topping $93,700 during early trading in Asia on Wednesday morning, but the altcoins were showing some rare gains also. BTC has now broken out of its sideways channel and appears poised to break through resistance just above $95,000.

Additionally, its dominance remains high at 64.4%, which means altseason is still a long way off despite today’s minor price pumps. Meanwhile, the Bitcoin Fear and Greed Index has flipped to greed, hitting 72 on Wednesday.

Bitcoin Fear and Greed Index is 72 ~ Greed
Current price: $93,342 pic.twitter.com/Q4TbXlRuf8

— Bitcoin Fear and Greed Index (@BitcoinFear) April 23, 2025

Spot Bitcoin ETFs in the United States have also seen a reversal in flows, with more than $1 billion entering the products so far this week, according to Coinglass.

U.S. Bitcoin ETFs bought 10,000 Bitcoin today (vs. 450 mined)

U.S. Bitcoin ETFs bought 4,500 Bitcoin yesterday (vs. 450 mined)

— HODL15Capital (@HODL15Capital) April 23, 2025

Today’s Top Performers

Ethereum has been one of today’s top performers, ripping 13.5% to come just shy of $1,800 during the Wednesday morning Asian session. ETH has now recovered 28% since its dip to $1,400 on April 9, but the asset remains at bear market lows and at record lows in terms of market dominance.

Dogecoin (DOGE) is another double-digit gainer today, with 12.7% added to reach $0.18 at the time of writing.

Cardano made 10% to reach $0.68, Avalanche was up 12% to top $22, but Sui was one of the biggest gainers with a whopping 23% pump to reach $2.75. Other double-digit altcoins include memecoins Shiba Inu and Pepe.