Crypto prices today: Bitcoin jumps 3% to $87,500; Chainlink, Sui surge up to 6%

The global cryptocurrency market witnessed renewed bullish momentum today, with Bitcoin (BTC) leading the charge. The world’s largest cryptocurrency surged by over 3%, climbing to $87,500, marking one of its strongest daily performances in recent weeks. This rise has sparked optimism among traders and investors, hinting at a possible trend reversal after a period of price consolidation.

Market analysts suggest that this move could be attributed to growing institutional interest and positive macroeconomic indicators that have boosted investor sentiment. Notably, several on-chain metrics also point toward increasing accumulation by long-term holders, reinforcing confidence in Bitcoin’s bullish potential.

Following Bitcoin’s lead, major altcoins also saw upward movement. Chainlink (LINK) posted a gain of 5.8%, fueled by increased demand for its decentralized oracle services amid rising DeFi activity. Chainlink’s consistent development updates and expanding ecosystem partnerships have kept it on investors' watchlists.

Meanwhile, Sui (SUI), a relatively newer entrant in the Layer 1 blockchain space, surged by nearly 6%. The price spike comes on the heels of announcements related to ecosystem expansion and higher on-chain activity. Sui’s unique object-based model and scalability features have been gaining attention among developers and DeFi builders, further boosting its market momentum.

The overall crypto market cap has risen by 2.5%, reflecting broader positivity and increased capital inflow. Trading volumes have also spiked significantly, signaling a possible shift in investor behavior as market participants prepare for further upward movement.

Despite the current bullish outlook, experts continue to caution against over-leverage, citing potential volatility from upcoming regulatory decisions and macroeconomic data releases. Nevertheless, today’s market performance reflects growing confidence in the long-term outlook of the crypto space.

As the market eyes the next resistance levels, all attention now turns to Bitcoin’s ability to maintain its current momentum and whether altcoins can sustain their gains. A strong close this week could potentially signal the start of a fresh bullish cycle across the digital asset landscape.

Source: Economictimes

Voice of Osiz

Our experts view the recent rise in Bitcoin’s price as a strong sign of growing institutional trust in the crypto market. As the adoption of decentralized services expands, projects like Chainlink and Sui are well-positioned to benefit from this growth. We expect this positive momentum to continue with increasing investments in blockchain technologies.