(HedgeCo.Net). Cryptocurrencies are enjoying a modest rebound today, with the total market capitalization up around 0.7%, and 75 of the top 100 coins registering gains in the past 24 hours. Cryptonews+2OpenExO+2

At the forefront of the rally: Bitcoin (BTC) — up about 0.4% to roughly $93,351 — and Ethereum (ETH), which climbed an impressive 4.6% to about $3,194. Cryptonews+2CoinDesk+2 This marks a sharp contrast to recent weeks of volatility and investor caution.

Ethereum’s rise is being credited not just to broader market sentiment, but to renewed interest following the recent activation of the so-called Fusaka upgrade on the Ethereum network — a protocol update that has enhanced throughput and improved efficiency on many Layer-2 solutions. The upgrade is being viewed as a meaningful structural improvement, and today’s price action suggests investors are rewarding that progress. 99Bitcoins+299Bitcoins+2

Analysts and traders point to several potential drivers behind the rebound. One is so-called “seller exhaustion” — a view advanced by analysts at exchange Bitfinex, who argue many short-term holders have already capitulated after prior sell-offs, reducing selling pressure and laying the groundwork for stabilization. Cryptonews+1

Another supporting factor: improving liquidity conditions. On-chain data shows exchange balances for major coins like Bitcoin near multi-year lows, a signal that coins are moving into “cold” or non-exchange wallets — often interpreted as bullish by long-term investors and institutions. The Block+1

Still, the broader crypto outlook remains cautious. Market watchers warn that the rebound is tentative and part of what many describe as a “range-bound, structurally volatile” regime. According to some analysts, upcoming macro and regulatory events — including interest-rate moves, inflation data, and institutional flows — will play an outsize role in determining whether today’s bounce develops into a sustained uptrend. Cryptonews+2CoinDesk+2

As altcoins begin to stir, Ethereum’s momentum may attract fresh capital to decentralized finance (DeFi) platforms, layer-2 networks, and token projects building on ETH’s renewed strength. For now, investors appear cautiously optimistic — monitoring whether improved fundamentals, lower network fees, and a friendlier regulatory backdrop can support the next leg of growth.