Crypto Markets Surge as Bitcoin Reclaims $74k and Ethereum Eyes $2,300

The cryptocurrency market continued its upward trajectory on Friday, with Bitcoin reclaiming the $74,000 mark and Ethereum poised to reach $2,300. According to analysts, the gains can be attributed to US inflation and jobless claims data coming in line with expectations, which has led to a surge in institutional demand.

Bitcoin's price fluctuated between $69,370 and $71,995 over the 24-hour period, with a total market cap of $1.43 trillion. Ethereum, on the other hand, held above the $2,000 support level and continued to attract institutional flows through spot ETF products.

The altcoin space also showed relative strength, with popular tokens such as BNB, XRP, Solana, Cardano, Hyperliquid, and Tron trading higher by up to 5 per cent. However, analysts note that the market is currently in a consolidation phase, with improving institutional participation gradually counterbalancing macro headwinds.