The cryptocurrency market showed renewed vigor today, with prices across the board experiencing significant upward movement. Bitcoin (BTC) briefly touched $62,000, while leading altcoins followed suit with impressive gains. AI-focused cryptocurrencies also saw notable increases over the past 24 hours. Meanwhile, the meme coin POPCAT emerged as one of the day’s top performers.

The global cryptocurrency market capitalization rose 1.61% to reach $2.15 trillion, though total trading volume dipped 18.39% to $66.55 billion. Let’s examine how some of the top cryptocurrencies by market cap performed on October 5.

Bitcoin’s price surged to $61,918, up 1.57% in the last 24 hours, after briefly touching $62,465.99. This aligns with $25.59 million in inflows to spot Bitcoin ETFs on October 4. Ethereum also gained ground, climbing nearly 1.5% to $2,402. Spot Ethereum ETFs saw $7.39 million in inflows.

Solana (SOL) jumped about 3% to $142, while XRP rose nearly 1% to $0.5282 despite ongoing legal uncertainty surrounding Ripple’s case with the SEC.

In the meme coin space, Dogecoin (DOGE) and Shiba Inu (SHIB) saw gains of 1% and 4% respectively. Other popular meme tokens like PEPE, WIF, and BONK surged between 4% and 12%.

AI-related cryptocurrencies also performed well, with NEAR, ICP, FET, and RENDER all posting gains between 1% and 5%. Bittensor (TAO) stood out with a remarkable 14% increase.

Top gainers included POPCAT, up 22% to $1.15, and FTX Token, which surged 16% to $2.41. On the flip side, Flare (FLR) and Stacks (STX) were among the day’s biggest losers, both declining about 2%.

The cryptocurrency market’s positive momentum comes despite dampened expectations for interest rate cuts from the Federal Reserve. Investors and analysts continue to closely monitor price action and broader economic factors that could impact the crypto space in the coming days and weeks.