The global cryptocurrency market capitalisation has touched the $4 trillion mark for the first time, driven by a powerful altcoin-led rally, even as Bitcoin (BTC), which represents nearly 60% of the market, trades 0.2% lower in the past 24 hours, according to CoinDecko data. The total crypto market cap reached $4.003 trillion on Thursday, with $260.2 billion worth of crypto traded in the past 24 hours.

"Overall crypto markets remain on a powerful altcoin-led run where Bitcoin is holding steady around $120K as BTC dominance slips to 61.6%, down from ~64% just weeks ago—highlighting that nearly 38% of top-50 tokens have outperformed BTC in the 90-day window, signaling an emerging altseason," said CoinSwitch Markets Desk, in its early morning commentary, though BTC has now dipped to $118, 925, down 0.1% in the past 24 hours.

As of today, Bitcoin’s market cap stands at $2.36 trillion, with a dominance of 59.71%, while stablecoins account for $266 billion or 6.71% of the total crypto market cap. Stablecoins like Tether and USDC have traded mostly flat over the last 24 hours. BTC's recent rally fuelled a renewed wave of optimism across the cryptocurrency landscape. With a 13.54% rally in the past month alone, BTC has become the sixth largest asset in the world, as per the Companiesmarketcap data.

Altcoins led the gains, with XRP jumping 20% to hit $3.64, Ethereum rose 7.8% to $3,600, Solana climbed 6.16%, Dogecoin gained 10.52%, and Cardano surged 14.76%. “Currently trading at $3,600, ETH’s rally is supported by the $5.2 billion ETF inflows since July, eyeing the $4,000 level, with solid support at $3,300,” said Edul Patel, Co-founder and CEO of Mudrex.

Total altcoin market cap has swelled past $1.3 trillion, driven by Layer‑1 gains (SUI +36%, SEI +41%) and memecoin momentum. TRON and Cardano were also trading higher, up 5% and 4.8% respectively.

Washington also chimed in with a policy boost as all three major crypto bills—the GENIUS Act (stablecoin framework), the Clarity Act (asset classification), and the Anti‑CBDC Surveillance Act—cleared the U.S. House, and now await Senate consideration and presidential approval.

“Crypto markets are showing renewed strength after a wave of regulatory and market catalysts,” said Avinash Shekhar, Co-Founder & CEO, Pi42. “Bitcoin briefly topped $120,000 following reports that the Trump campaign may allow crypto in retirement accounts... Ethereum ETFs saw a record $726 million in daily inflows recently, pushing ETH past $3,594, while XRP hit a new all-time high of $3.62 after a seven-year wait, driven by a surge in open interest.”

Riya Sehgal, Research Analyst, Delta Exchange, added: “ETF inflows, policy clarity, and legislative progress support the rally.”

Shekhar says with Bitcoin dominance easing, capital appears to be rotating into altcoins like Solana and Dogecoin. "Markets now watch whether Bitcoin can hold above $120,000 and if Ethereum can push toward the $4,000 level."