Crypto Market Value Surpasses $3 Trillion as Bitcoin Eases Back

The crypto market has regained its value above $3 trillion after experiencing significant growth over the past three weeks.

This comes after Bitcoin reached an eight-month high of $87,381 but eased to around $86,000. The rapid increase in value has led to nearly $160 billion being tied up in perpetual futures, causing leverage and short-term risk to remain elevated.

The market's momentum is also bolstered by the Nasdaq hitting a fresh intraday record and oil prices hovering near $100 Brent, indicating institutional adoption.