The market’s total capitalization increased by 5% over the last 24 hours

Major cryptocurrencies saw significant gains, surging by as much as 13%, driven by a Bitcoin (BTC) rally that lifted the entire crypto market. These price increases were fueled by optimism surrounding the potential approval of a spot Bitcoin exchange-traded fund (ETF). Notably, all major tokens reversed their losses from the previous week, with Bitcoin surpassing the $30,000 mark and Ether (ETH) crossing the $1,600 threshold on Friday. XRP also saw a 7.2% gain following a crucial court decision favoring payments firm Ripple, which had a positive impact on market sentiment. Additionally, Solana’s SOL token rose by 12%, extending its weekly gains to over 25%.

Bitcoin SV (BSV), a fork of Bitcoin, experienced a remarkable 32% surge following its listing on the Binance crypto exchange with perpetual futures at 50 times leverage, which garnered significant attention from traders.

In addition, several ETF providers made revisions to their filings in the past week, coinciding with growing pressure on the U.S. Securities and Exchange Commission (SEC) to adopt a more favorable stance on approving a Bitcoin ETF.

Jack Tan, the founder of the crypto exchange WOO Network, remarked in a note to CoinDesk, “Betting on a sustained decline in BTC at this point is akin to defying gravity. Certainly, the anticipation of an ETF will drive strong demand, but if people begin to see BTC as a safe-haven asset, it could usher in a new era.”