Bitcoin has surged past the $91,000, indicating a further upswing in the cryptocurrency market. The increase in Bitcoin’s price is accompanied by several other major cryptocurrencies that are also experiencing significant appreciation. In a recent X post, the analytical platform Crypto Rank highlighted that the market has been on the rise, and the top coins have also been on the rise. The uptrend in Bitcoin is also accompanied by increasing interest from investors in the crypto market.
According to platform findings, Bitcoin’s market capitalization is 56.62%, which is 0.34% lower than in the previous period. Nonetheless, the market capitalization value decreased slightly, though Bitcoin remains the most influential crypto asset in the market. The market capitalization of all cryptocurrencies now stands at $3.18 trillion, a 4.33% increase, which shows that the market is quite strong.
Altcoin Price Surge
Other major cryptocurrencies are also experiencing massive price appreciation. The price of XRP has increased by 24.7%, ADA has gained 22.9%, and SOL has increased by 4.54%. These increases indicate that the market is broadly rallying, with several altcoins posting strong gains while Bitcoin also rises.
Nevertheless, the major gainers in the market are small coins that have performed tremendously. Sologenic (SOLO) is up by 164.1%, followed by Catana (CATANA), by 151.6%, and SubQuery (SQT), by 126.4%. Invest Zone (IVfun) also performed well, with a growth of 122.3%. These altcoins show that if investor interest is indeed in Bitcoin, it is now slowly extending to the rest of the market.
Investor Sentiment Rises
Investor sentiment is also increasing, with the Fear & Greed Index currently standing at an “extreme greed” of 86. This level of confidence indicates that investors are expecting the market to remain bullish, but it also raises the risks of the market. This kind of sentiment is not uncommon right before a market correction, but sentiment remains very bullish.
Source: Alternative
The current rally of the crypto market is attributed to institutional capital, better regulation and general acceptance of digital currencies. While Bitcoin is still in the lead, analysts expect the prices to rise even further in the following months.
Bitcoin’s Bullish Run: Michael Saylor Sees $100K TargetIn general, the cryptocurrency market’s current trend is actively rising, which indicates future growth. Bitcoin occupies the leading position here. Investors and analysts are also watching the market as it keeps growing in the hopes of achieving similar increases soon.
