Bitcoin Nears $119,000 

Bitcoin has excited investors with strong performance since the start of the week. BTC surpassed $119,000 for the first time since mid-August. After a brief correction, the coin continued its upward trend. This movement signals that the recent downward pressure in the crypto market has faded. 

Over the weekend, BTC traded sideways but surged to $115,000 on Monday. Despite a short pullback, bulls pushed the price higher again. Today, BTC climbed to $119,500, marking its highest level since August 15. 

Significant Gains Among Altcoins 

Altcoins also experienced notable upward trends. Ethereum briefly exceeded $4,400, while XRP approached $3. Dogecoin and Hyperliquid gained around 6%. LTC jumped 10% to $120, and CRO rose 12% to surpass $0.22. 

Zcash gained over 60% in 24 hours, with weekly growth exceeding 140%. 

• LTC: 10% rise to $120 
• CRO: 12% rise to $0.22 
• Dogecoin and Hyperliquid: 6% increase 

These gains indicate strong investor interest across major altcoins. 

Overall Market Activity 

The total crypto market capitalization increased by more than $200 billion since Monday, reaching $4.175 trillion. BTC dominance stands at 56.7%. This surge has created a positive market sentiment for both large and medium-scale investors. 

Analysts suggest that the momentum could continue in the short term, potentially driving double-digit gains for some altcoins. Investors are closely monitoring the rapid market movements. 

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This move highlights SEC’s cautious approach toward meme coin investments. Moreover, investors and analysts anticipate short-term market reactions. The SEC’s review ensures spot crypto ETFs are introduced safely and in a regulated manner. Additionally, the delay strengthens investor protection measures. 

SEC Grayscale Files Spot HBAR ETF 

Grayscale has submitted a Spot ETF application for Hedera (HBAR). The SEC postponed its decision until November 8, 2025. This delay reflects additional questions on Nasdaq’s commodity trust compliance. As a result, HBAR ETF undergoes thorough evaluation. HBAR and Polkadot (DOT) strong market performance has increased investor interest.

Furthermore, the SEC’s postponement addresses market manipulation and custody risks. Experts predict the HBAR ETF approval may extend into the fourth quarter. This process ensures crypto assets operate under a safer regulatory framework. Lastly, investors closely monitor SEC’s transparent approach. 

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Elon Musk, who had previously supported Trump’s re-election campaign, further solidified his backing by naming the department DOGE, after the popular cryptocurrency. As a supporter of Dogecoin, Musk chose this name because it aligns with the symbol of the coin. Following this move, the price of Dogecoin surged by 136%, reaching $0.406.

Following Trump’s announcement, Vivek Ramaswamy stated on the X platform, “We will not go gently in the transformation of the government.” Elon Musk also posted, “Not a threat to democracy, a threat to bureaucracy!”

Democratic Senator Elizabeth Warren criticized these appointments, finding it inefficient to have two people leading the department. She sarcastically remarked, “The Department of Government Efficiency entrusted to two people? This seems efficient!” Warren had recently won her Senate seat against John Deaton.

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Trump’s promises to eliminate bureaucratic obstacles and streamline government structures are drawing increased attention with these developments. Interest in Dogecoin and other cryptocurrencies continues to rise, and further market movements are expected.

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