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The global crypto market has suffered a strong bearish momentum since early 2022. However, Bitcoin’s (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/">BTC</a>) surge above $30,000 has triggered a market-wide rally for most altcoins. 
According to the <a href="https://coinmarketcap.com/charts/" target="_blank" rel="noopener">data</a> provided by CoinMarketCap (CMC), the global crypto market capitalization hiked by 2.05% in the past 24 hours, reaching roughly $1.16 trillion. Per the data aggregator, the market’s 24-hour trading volume surged 21%, surpassing the $47 billion mark. 
As the market rallies, Bitcoin’s price witnessed a 2% surge and is trading at $30,730 at the time of writing. BTC’s market dominance hiked to 51.5%. This suggests that the flagship cryptocurrency, Bitcoin, could’ve driven the recent rally. 
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 BTC price on Oct. 23 | Source: Trading View
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Moreover, the “fear and greed” index has also surpassed the 55-point mark, reaching a three-month high despite the negative impact of the <a href="https://crypto.news/israel-finds-new-ally-in-crypto-amidst-conflict/">Israel</a>-Hamas war. 
 You might also like: <a href="https://crypto.news/fbi-charges-6-for-running-30m-crypto-ring/"> FBI charges 6 for running $30m crypto ring </a> 
Crypto investor and technical analyst Tony said on X (formerly Twitter) that the current bull run might differ from 2019. He claims that Bitcoin has entered a “more advanced bull run.” 
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 Reminder: This is not 2019<a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> is beginning a more advanced bull run <a href="https://t.co/sS9cAsFQZ4" target="_blank">pic.twitter.com/sS9cAsFQZ4</a>— Tony "The Bull" (@tonythebullBTC) <a href="https://twitter.com/tonythebullBTC/status/1716071319106683130?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">October 22, 2023</a>
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The chief legal officer of Coinbase, Paul Grewal, <a href="https://crypto.news/coinbase-optimistic-about-us-approval-bitcoin-etf/">believes</a> that the U.S. Securities and Exchange Commission (SEC) might give the green light to a BTC exchange-traded fund. The optimist comes while the SEC scrutinizes many crypto companies and digital assets, including Ripple (<a href="https://crypto.news/price/xrp/">XRP</a>). 
Following the recent surge in the BTC price, MicroStrategy’s Bitcoin holdings are <a href="https://crypto.news/michael-saylors-microstrategy-enjoys-bitcoin-surge/">back in profit</a> — the company has purchased 158,245 BTC at an average price of $29,582 per coin. 
 Read more: <a href="https://crypto.news/upland-blockchain-game-raises-7m-ahead-of-token-launch/"> Upland blockchain gaming project raises $7m ahead of ERC-20 token launch </a>

Crypto market turns green as investors expect another bull run

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