Crypto Market Sentiment Lifted Amid Wall Street Rally
The crypto market has seen an uptick in sentiment following Wall Street's strong rally to usher in August. The tech-heavy Nasdaq Composite Index surged by around 1.8%, which also lifted the overall crypto market capitalization by almost 1%. Bitcoin reached a 24-hour high of $63,910, as global markets factored in the prospects of peace in the Middle East.
The CMC Crypto Fear and Greed Index, which tracks sentiment in the crypto market, rose to 36 from 35 the previous day. The index measures the balance between fear and greed among investors, with higher readings indicating more bullish sentiments.
Market participants also digested reports from Strategy Inc (MSTR), a leading Bitcoin treasury company headed by Michael Saylor. The firm reported selling 1,638 Bitcoins during the period between July 27 and August 2, aggregating to $105 million at an average sale price of $63,957.