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Bitcoin Surges Past $64K, Ethereum Hits $2,500 as Market Momentum Builds

Ethereum Accelerates:

Ethereum rallied to $2,500, gaining strength as it crossed its 50-day moving average on Monday. This intersection supported the upward push, indicating renewed momentum.

Crypto Market Overview:

The total crypto market cap stands at $2.23 trillion, recovering to levels seen a week ago.

Growth occurred in two key phases: Thursday’s market close and Monday’s session opening.

Shifting Market Sentiment:

Fear has subsided, bringing market sentiment back to neutral territory at 48.

In contrast, US stock market sentiment hovers near extreme greed, highlighting different risk appetites across financial markets.

With sentiment stabilizing and momentum building, the crypto market shows signs of renewed strength, setting the stage for potential further gains.

Ethereum Gains Momentum

Price Movement:

Ethereum surged to $2,500, breaking through its 50-day moving average on Monday.

Technical Insight:

The 50-day MA posed limited resistance, as it was trending downward.

Bullish Outlook:

If positive sentiment builds, the next target for bulls is the $2,700 level, aligning with late-September highs.

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