Bitcoin rises to $97, crypto market cap grows by $70 billion

• Bitcoin rises by $4, pulling the crypto market higher
• Cryptocurrency market grows by $70 billion in one day
• Altcoins like LTC and SUI follow Bitcoin’s appreciation

Bitcoin price today rose to $97.000, up 3,50% on Wednesday, May 7, 2025. Investors are awaiting interest rate data, which will be announced by the United States Federal Reserve. At the time of publication, the price of Bitcoin was quoted at $96.935,90, up 3% in the last 24 hours.

The recent correction in the price of Bitcoin (BTC), which had dominated the beginning of the week, lost steam as the digital asset jumped more than $4 in less than 12 hours. The positive momentum came amid reports that the US and China are expected to resume talks on trade tariffs soon, this time with a meeting scheduled for Switzerland.

After starting May with a bang, BTC surged from $93.500 in late April to hit $97.000 the following day. It peaked on May 3, when it hit $98.000, its highest level in over two months. However, in the following days, the cryptocurrency retreated to the $93.500 range before reversing its trend again.

The possible resumption of dialogue between the world's two largest economies was the trigger for the new appreciation. With the news, Bitcoin reacted quickly, rising to US$ 97.600 in a few hours. At the moment, the asset is trading close to US$ 97.000, registering a daily appreciation of 3%.

Among the altcoins, the highlight is Litecoin (LTC), which had suffered a sharp drop after the SEC's decision on its ETF was postponed. The asset fell more than 8%, but managed to reverse the movement with a 13% rise, returning to the region of US$ 92.

Other tokens that performed positively include HYPE, which surpassed $21 with a 6% increase in 24 hours, as well as CRO, AAVE, SUI, LINK, DOGE, ADA, BCH and HBAR, all trading in the green.