After a tough day yesterday, the market took a turn for the better across the board, with Ethereum leading other major coins in percentage gains. Although the majority of the top 100 cryptos experienced increases, the total market capitalization dropped 2.5% to $3.44 trillion. Market sentiment continues to be firmly neutral to moderate greed, as investors continue to monitor macroeconomic indicators on a global scale and the ever-evolving regulatory landscape.
Bitcoin (BTC) is up 0.4% over the last 24 hours, just enough to pint it back to where it started the day yesterday. It now trades at $108,812. Ethereum (ETH) was the top gainer among the top 10 coins with a 3.1% jump, taking ETH’s price to $2,629. XRP was on the move too, soaring by 3% to $2.33.
Only Tron (TRX) among the top 10 cryptocurrencies registered no gains at all keeping the rate unchanged at $0.2869. From the top 100 cryptos, 95 of the coins were in the green—proof that the crypto bull run is in full swing.
Among the top 100, Cronos (CRO) and SPX6900 (SPX) were the biggest gainers, up 16.4% and 12.5% respectively. Contrarily, Bonk (BONK) and Fartcoin (FARTCOIN) had the biggest negative performance, dropping by 6.3% and 2%, respectively.
In fact, as of today, the Fear and Greed Index is at 52, indicating a neutral to slightly greedy sentiment among investors. The macro market sentiment has continued to remain positive over the last week. In fact, it has been between 49 and 55 much of this period of time.
Bitcoin’s price has been riding high on the tailwinds of the historically weak Dollar Index (DXY). Investors have one ear always attuned to the global trade war and frac-tariff news. Specifically, they’re looking at the United States and how these changes may affect the burgeoning cryptocurrency market.
Here’s how the recent approval by the U.S. Securities and Exchange Commission (SEC) of the first ever spot Exchange Traded Fund (ETF) to change that. Specifically, this decision is being heralded by the cryptocurrency industry as a landmark achievement. US BTC & ETH ETFs remain on track for a 7th consecutive week of positive, though small, net flows.
