After a torrid start to August, the crypto market has made a valiant attempt to recover steep losses. The resurgence sees Bitcoin inch toward the $114,500 mark while several altcoins are approaching double-digit percentage gains in the last 24 hours.
Crypto Market Racks Impressive Rebound
According to TradingView data, cryptocurrency prices have soared by nearly 3% over the last day, erasing previous losses. At press time, the global cryptocurrency market capitalization is pegged at $3.6 trillion, adding an impressive $85 billion.
The sudden surge in crypto market prices has the trappings of a classic Sunday pump, characterized by low trading volumes. Currently, daily trading volumes are at $131.36 billion, representing a 12% decline over 24 hours.
Bitcoin has picked itself from an intraday low of $111,943 to reach $114,453, gaining nearly 3% in a single day. Amid the price surge, Strategy founder Michael Saylor disclosed that “Winter is not coming back,” hinting at a longer price rally for the premier cryptocurrency.
Winter is not coming back. pic.twitter.com/KMs2L4tU5o
— Michael Saylor (@saylor) August 3, 2025
Ethereum, the second largest cryptocurrency, raked in nearly 3% to top $3,500. Meanwhile, other assets in the crypto market have latched onto the price spurt of the two largest cryptocurrencies to post impressive figures.
XRP spiked by 4% while Dogecoin and ADA pulled in gains of 4.18% and 5.11% respectively. HBAR and XLM have surged by over 10% in the last 24 hours while Pi racked up a respectable 4% in the same window.
The Sunday pump follows a broad crypto market crash at the start of August that sent leading cryptocurrencies tumbling to two-week lows. The crash also triggered massive outflows from Bitcoin and Ethereum ETFs, with both recording nearly 1 billion in losses.
Why Are Prices Rising?
Several factors are triggering a crypto market price resurgence over the weekend. At the top of the pile, institutional players buying the dip have triggered fresh demand for Bitcoin and Ethereum. Yesterday, Adam Back flagged a Bitfinex whale purchasing 300 BTC per day using a Time Weighted Average Price (TWAP) strategy.
Furthermore, fresh regulatory clarity is stoking optimism for a longer crypto market rally. At the end of last week, the US SEC launched Project Crypto to explore the tokenization of the US markets, with the Commission announcing a raft of roundtables with industry players.
On the macroeconomic side of things, simmering trade tensions from Trump tariffs have led to an influx of capital as investors view Bitcoin as a hedge against instability. In addition, the odds of a Fed rate cut in September have risen to 80%, amplifying bullish narratives in the crypto markets.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.
✓ Share: