Bitcoin’s surge above $75K lifts market sentiment, driving growth across major cryptos.
Crypto market cap reached $2.7T, with BTC’s 1.43% gain leading to broader crypto optimism.
Altcoins see gains as Drift Protocol and DOGE rise sharply, attracting new investor interest.
Bitcoin has risen above the $75K level, which has created favorable sentiments in all other cryptocurrencies in the market. In an X post on Friday, analytical platform CryptoRank reported that the cryptocurrency market’s total capitalization has reached $2.7 trillion. This reflects a daily increase of 1.43%, driven mainly by Bitcoin’s growth.
Top Cryptos Show Growth
According to the platform findings, the leading cryptocurrencies have experienced significant increases. Cardano was the biggest gainer, with ADA adding 14.47%, Solana rose by 5.62% and Ethereum up 2.98%. The market capitalization of Bitcoin, however, is still at 55.54% even as market participants shift attention to other cryptocurrencies.
The Fear & Greed Index, which tracks investor sentiment has surged into the ‘Greed’ zone, reaching 75 points. This level indicates higher levels of investors confidence; a concept that is often captured by the bulls. Nevertheless, earlier trends indicate that high greed levels may make traders apprehensive and give a hint that the market is over-extended.
Despite this positive outlook, several altcoins have recorded impressive price increases, making them the day’s most appreciating coins. Drift Protocol (DRIFT) had the highest performance increase of 86.4% and was the day’s best performer.
New Projects Gain Attention
DOGE, the Department of Government Efficiency, saw its value rise 80.9%, and SubQuery (SQT) came second with a 77.3% increase. Metacade (MCADE) jumped by 76.7%, and Effective Accelerationism (EACC) by 75.8%. These altcoins indicate more interest in new projects, especially when major cryptocurrencies are bullish.
The rise of Bitcoin to above $75,000 has boosted market confidence. However, the decline in Bitcoin’s dominance of around 0.3% indicates that investors are turning to other assets. The crypto market has held up well, especially with Bitcoin’s performance continuing to be excellent. The general tone is still positive with some uncertainty, as traders follow Bitcoin’s movements and possible market mood changes.
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