Crypto Market Surges as Bitcoin Hits $70,000, Ethereum Jumps 20% in a Day

The cryptocurrency market is experiencing a significant surge today, with Bitcoin rising sharply and Ethereum gaining around 20% in just one day. Solana is also performing well, while many other altcoins have gained only around 5-7% and some remain near their lows.

One key factor driving the rally is the buying activity in U.S. spot Bitcoin ETFs, which has recorded three straight days of purchases. According to reports, more than 8,000 BTC were purchased through these ETFs in the latest session alone, with BlackRock alone buying over 4,000 BTC.

This buying pressure helped push Bitcoin's price from around $64,000 to over $70,000. The rally was initially driven by a sharp wave of short liquidations, while new U.S. Treasury measures and fresh political support for the crypto industry added to bullish sentiment.