Cryptocurrency Market Sees Significant Price Gains Amid Global Recovery

The cryptocurrency market has witnessed a notable recovery in the past 24 hours, breaking free from geopolitical sentiment and global volatility.

This surge is largely driven by strong macro correlations between cryptocurrencies and traditional markets, as well as rising open interest in derivatives. According to Coinglass data, Bitcoin's open interest rose 1.6% to $44.27 billion, while Ethereum's open interest saw a significant increase of 6.44% to nearly $26 billion.

Additionally, fund inflows into crypto ETFs have strengthened market momentum, with spot Bitcoin ETFs in the US posting net inflows of $787 million and Ethereum ETFs recording inflows of $81 million.