Here's Why Bitcoin, Altcoins Are Rallying: Does Bull Run Start? | Coinspeaker

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### Key Notes* Bitcoin broke the $94,000 barrier for the first time in six weeks.* The global crypto market cap is nearing the $3 trillion zone.* Spot BTC ETFs recorded their seventh-highest net inflows.Bitcoin  BTC$93 97224h volatility:6.2%Market cap:$1.87 TVol. 24h:$57.44 B  and the broader altcoin market started to see increased gains on Tuesday, April 22, as both fundamental indicators and macro conditions turned in favor of financial markets.Bitcoin rose by 6.5% to a six-week high of $94,000. Its market dominance reached 63.4% — market cap sitting at $1.85 trillion — for the first time since January 2021. This suggests that Bitcoin’s bullish momentum was a key driver for the altcoin ecosystem.According to data from SoSoValue, the US-based spot BTC exchange-traded funds recorded a net inflow of $936.4 million, led by ARKB’s $267.1 million inflows, on April 22. This was the seventh-largest daily inflow into the Bitcoin-based investment products.Related article: Strategy Acquires 6,556 Bitcoin for $555.8 Million: DetailsEthereum  ETH$1 78924h volatility:10.2%Market cap:$215.98 BVol. 24h:$27.46 B  also saw a $38 million net inflow into its US-based spot ETFs for the first time since Feb. 4, SoSoValue data shows.The leading altcoin gained 14% in the past 24 hours and is trading at $1,800. ETH has been showing bullish signals over the past week as whales started to accumulate the asset.According to CoinMarketCap data, the global crypto market capitalization increased by 7% to $2.94 trillion, with a daily trading volume of $134 billion.The CMC fear and greed index also recorded a sudden spike above the 50 mark, showing increased investor confidence in the asset class.## What’s Driving the Bull Run?The reason why the crypto market is seeing a strong buying spree, similar to the November 2024 elections, is a combination of micro and macro catalysts.Whale accumulation acted as one of the key drivers. Coinspeaker reported that large holders have been buying leading assets like Ethereum, Solana  SOL$151.324h volatility:7.9%Market cap:$78.26 BVol. 24h:$5.89 B  , and Dogecoin  DOGE$0.1824h volatility:10.9%Market cap:$27.08 BVol. 24h:$2.10 B  , to name a few.It’s important to note Strategy’s $555 million Bitcoin purchase on April 21.The daily crypto liquidations also skyrocketed to $629 million, $74 million longs and $555 million shorts, according to CoinGlass data. Historically, short liquidations push the prices higher.Most notably, the increased investor confidence in the financial markets has been reinforced after US President Donald Trump announced that the 145% tariffs on China will likely fall.According to The Hill, Trump expressed optimism, saying that “It [tariffs] won’t be that high”.nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.