The digital asset market witnessed a strong rebound today, boosting investor confidence amid recent volatility driven by regulatory concerns and broader economic factors. The market’s resurgence hints at a potential year-end Santa Claus rally, with expectations tied to Bitcoin Spot ETF approval and dovish Fed sentiments.
Bitcoin surged 4.32% to $42,900.06 in the last 24 hours, with a significant 38.86% spike in trading volume, showcasing a positive trend despite recent fluctuations. Ethereum rose by 2.82% to $2,234.73, accompanied by a 28.54% increase in volume to $10.43 billion. XRP saw a 0.99% increase, hitting $0.6126, with a 69.36% rise in trading volume to $1.62 billion.
Solana jumped 8.28% to $75.59, and Cardano followed suit with a 6.2% increase to $0.6109, along with a 22.90% volume uptick to $752.47 million. Dogecoin rose by 0.54% to $0.09261, with a 35.55% increase in volume to $676.61 million. Shiba Inu gained 2.98%, reaching $0.0000104, despite a 31.41% drop in volume to $282.11 million.
The overall market surge raised the global crypto market cap by 3.64% to $1.61 trillion, with a 27.08% spike in market volume to $64.89 billion. The market’s fear and greed index stood at 72, signaling a “greed” sentiment among investors.
Top cryptos saw notable movements, while Pepe Coin stayed steady, noting a slight 0.15% decline to $0.000001315, with a 13.4% volume rise to $92.45 million. SEI surged by 30.18% to $0.3146, with a massive 432.41% volume spike to $582.19 million, marking a substantial 121% increase in the last 30 days. Injective gained 21.92% to $37.86, with a 91.68% volume surge to $513.31 million, adding nearly 141% over the past month.
