Crypto Market Surges Past $2.51T as Bullish Trend Takes Hold
The cryptocurrency market has experienced a significant surge in recent days, with its value reaching $2.51 trillion after gaining nearly 7% over the past 24 hours.
This marks a dramatic shift in investor sentiment, with the market capitalization having risen by 18% since the start of the week and by 24% since hitting a low of $2.04 trillion in early July.
The bullish trend is further confirmed by the sentiment index reaching 72, just 3 points below the 'extreme greed' level, a mark it last exceeded on October 5th.
Bitcoin has also seen significant gains, surging to $75.5K and nearing levels not seen since late May. The nearest significant resistance zone for Bitcoin lies between $82K-$87K, a range that includes the peak in May and the support zone from December-February.