The post Why Is the Crypto Market Up Today? appeared first on Coinpedia Fintech News
Cryptocurrency Market Today: The global cryptocurrency market is experiencing a boost today, with a 1.31% rise in market cap, bringing the total to $2.33 trillion. Market sentiment remains neutral, as indicated by the Fear & Greed Index sitting at 58. Bitcoin dominance has climbed to 57.7%, showing its continued strength, while Ethereum holds 13.6%. The positive sentiments hint at the possibility of Uptober finally coming to fruition.
The uptrend in Bitcoin and the crypto market comes amid institutional interest and ETFs. Notably, BlackRock’s Chief Investment Officer, Samara Cohen, highlighted the growing investor interest, with direct investors accounting for 80% of spot Bitcoin ETF buyers. Inflows into these ETFs have surged, reaching $274 million on October 18, marking a six-day streak of positive gains. ARK Invest and BlackRock led the charge, contributing a combined $180 million.
Bitcoin Price Holds Steady Above $68k
Bitcoin (BTC) price stays strong at $68,392.25, up 0.93% over the past 24 hours. The positive momentum is largely driven by sustained inflows into spot Bitcoin ETFs. Market analysts expect further growth as ETF inflows continue to rise.
Wondering if BTC will hit $100k this year? Read our Bitcoin Price Prediction for insights!
Altcoins Prices Today: Ethereum and Solana Show Growth
Ethereum (ETH) is trading at $2,646.11, up by 1.13%, while Solana (SOL) has risen by 1.34%, reaching $154.61. XRP (XRP) posted a moderate gain of 0.60%, currently priced at $0.5465.
Keen on the long-term price targets of ETH? Read our Ethereum Price Prediction
Top Gainers: AXS and SAND Lead with Double-Digit Growth
AXS price soared by 15.32% to $5.34, making it the top performer among the top 100 cryptocurrencies. SAND followed closely, rising by 13.51% to $0.2945.
Top Losers: BCH and OM Post Declines
On the downside, the BCH price dropped by 1.73%, trading at $365.25, while the OM price fell by 1.21%, now priced at $1.53.
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