The total cryptocurrency market cap rose 1.2 percent in the past 24 hours, climbing to around $2.84 trillion on Saturday, March 15, 2025. This small but crucial recovery comes after a brutal two-month period where the market lost over $1 trillion in value.

Bitcoin’s price recovery set the tone for the wider altcoin market, which followed in a bullish trend. This eased concerns about further sell-offs, as reflected in the Bitcoin Fear and Greed Index, which climbed to 46 percent, signaling a shift toward market neutrality.

Here’s what’s driving the turnaround.

Key Drivers Behind Today’s Crypto Surge

Gold Hits a New All-Time High

Gold prices have climbed more than 3 percent in the past three days, reaching an all-time high of around $3,000 per ounce. Since Bitcoin is often compared to gold as a store of value, speculation about a sharp BTC price rebound has gained momentum across social media.

As a result, the broader crypto market has benefited from Bitcoin’s price stability.

Stock Market Gains

The crypto market’s recovery is also in line with gains in traditional financial markets. The S&P 500, NASDAQ, and the Dow have all rebounded by around 2 percent in the last 24 hours after a sharp decline earlier in the week.

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US SEC’s XRP Proposal

Another key factor in today’s market recovery is a proposal from the US Securities and Exchange Commission (SEC) suggesting that XRP should be classified as a payment asset rather than a security.

The SEC believes XRP can help free up funds held in US Nostro accounts, which could then be used to purchase more Bitcoin. This regulatory clarity has helped restore confidence in the broader crypto market, easing uncertainty among investors.