The U.S. stock market's remarkable surge today, with the S&P 500 gaining 19.40%, acted as the primary catalyst for the sharp rise in cryptocurrency prices. This significant equity rally reflects renewed investor confidence and risk appetite, which spilled over into the crypto market. Notably, no new central bank policy announcements or economic events were scheduled today, leaving market participants to focus on existing fundamentals. The Federal Reserve remains on hold with its policy rate at 3.75%, while the Bank of Japan has just begun a hiking cycle, holding rates at 1.00%. This stable policy backdrop has helped support risk assets including cryptocurrencies.
As a result, Bitcoin saw a strong 10.7% increase in its price, reaching ¥11,365,626, while Ethereum outperformed with an 18.7% gain to ¥360,912. Other major altcoins also rallied significantly, with XRP up 12.6% and Binance Coin rising 6.3%. These moves matter because they signal growing investor confidence in crypto as an asset class during times of strong equity performance. The parallel rise in both Bitcoin and altcoins suggests broad market participation rather than a narrow rally, indicating healthier market dynamics.
Market sentiment has clearly turned more optimistic, supported by positive on-chain indicators such as increased transaction activity and stable holding patterns among long-term holders. This suggests that the recent price gains are not solely speculative but are backed by genuine user engagement and accumulation. The absence of new central bank policy changes has also reduced uncertainty, allowing investors to focus on fundamental drivers rather than macroeconomic fears. Overall, the sentiment is shifting toward a higher risk tolerance, which could sustain further gains in digital assets if the equity market remains strong.
Looking ahead to the U.S. evening trading session, key levels to watch for Bitcoin include the ¥11.4 million mark, which could act as psychological resistance, and a support level near ¥11 million. Ethereum’s upward momentum positions it to test ¥365,000, while XRP’s momentum could see it challenge the ¥185 level. Investors should monitor whether the strong equity rally continues, as it tends to influence crypto market direction. The next central bank meetings are some months away, with the Fed scheduled on June 16, 2026, and the Bank of Japan on July 30, 2026, indicating that policy-driven volatility should remain limited in the near term.