Cryptocurrency Market Surges Past $2.75 Trillion as Institutional Investors Flood the Scene
The cryptocurrency market has experienced a significant surge in recent days, with Bitcoin (BTC) surpassing $80,000 and altcoins following suit.
This rally has been driven by institutional investors, who have pumped over $3.3 billion into US-based bitcoin ETFs over the past nine trading sessions, according to Farside Investors data.
The Crypto Fear & Greed Index, which measures market sentiment, has skyrocketed from 30 to 70-80 points, indicating a shift towards greed and speculation.
Altcoins such as Solana (SOL) have been leading the charge, with its price increasing by nearly 19% in the past week and reaching $110. This surge is attributed to Charles Schwab's decision to add SOL to its crypto platform, making it more accessible to retail investors.