Why Crypto Market Is Up Today? Will US Elections 2024 Drive More Gains?

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The total crypto market cap surged by 2 percent in the past 24 hours to hover about $2.28 trillion on Saturday, October 12, during the early European session. The altcoin industry experienced a knee-jerk reaction after Bitcoin’s (BTC) price surged to a range high of about $63,361 on Friday during the mid-New York session. 

The notable crypto rebound in the past 24 hours did not result in heavy liquidations. Furthermore, more crypto traders were expecting higher volatility over the weekend after Bitcoin price traded below $59k for the first time in three weeks.

Major Forces Behind Today’s Crypto Pump Re-emergence of Whale Demand