The cryptocurrency market capitalization neared $3.40 trillion by the end of Wednesday, adding close to 3% in 24 hours, driven by renewed momentum in Bitcoin and broad-based strength across altcoins.

Bitcoin surged past $109,500 late in the day, fueling gains in Ethereum, which jumped 6%, while Dogecoin and Cardano climbed more than 7%.

Although Bitcoin briefly pulled back by about $1,000 early Thursday, it quickly recovered to retest the highs seen in early June.

Market participants are now watching whether the cryptocurrency can challenge or surpass its all-time high near $112,000, set in late May.

Risk appetite remains elevated across global markets, adding to the bullish setup.

However, attention is turning to the upcoming US jobs report due later Thursday.

The data could either reinforce the rally or act as a roadblock, depending on its implications for Federal Reserve policy and broader risk sentiment.

The bullish momentum is also seen in the early-stage project Bitcoin Pepe.

The project’s presale has seen continued momentum from investors.

Standard Chartered has reaffirmed its bullish stance on Bitcoin, projecting the cryptocurrency will climb to $135,000 by the end of the third quarter and surpass $200,000 by the end of 2025.

In a research note published Wednesday, the bank cited accelerating institutional demand—particularly from ETFs and corporate treasury allocations—as the key catalyst for the ongoing rally.

The forecast comes from Geoff Kendrick, head of digital asset research at Standard Chartered, who has maintained a consistently optimistic outlook on Bitcoin’s long-term potential.

Kendrick wrote that the underlying drivers of Bitcoin’s market performance have shifted meaningfully, moving away from traditional halving-cycle dynamics.

Earlier in the week, analysts at Bitwise also reiterated their bullish call for Bitcoin to reach $200,000 by year-end, citing surging institutional interest and a supportive regulatory backdrop.

A renewed rally in Bitcoin, fueled by accelerating institutional demand, is once again spilling over into the broader crypto market, reviving speculative appetite across altcoins and meme tokens.

One of the standout beneficiaries of this rotation is Bitcoin Pepe, which has positioned itself at the confluence of meme coin appeal and Layer 2 infrastructure innovation.

Marketed as the first meme-centric Layer 2 on the Bitcoin network, Bitcoin Pepe aims to offer scalability and speed akin to Solana while anchored to Bitcoin’s base-layer security.

This blend of cultural relevance and technical substance is helping the project differentiate itself in a crowded field of speculative assets.

The team has also secured strategic partnerships with Super Meme, Catamoto, and Plena Finance, initiatives that aim to extend Bitcoin Pepe’s ecosystem, create broader cross-platform integrations, and move the token beyond pure speculation into functional utility.

With the presale now having raised over $16 million, investor interest appears to be gaining traction.

A final listing announcement is expected on July 31, which could serve as a key catalyst heading into the final phase of the token’s launch.

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