Greed

Cryptocurrency

Astar

Bitcoin

Dogecoin

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 <p class="paragraph">In addition to the renewed wave of optimism in the cryptocurrency sector triggered by the rumors of an imminent approval of a spot Bitcoin (BTC) exchange-traded fund (ETF), the industry’s total market capitalization has skyrocketed, adding $110 billion in a single day.</p>
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 <p class="paragraph">As it happens, the cryptocurrency <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> cap has increased from $1.16 trillion to $1.27 trillion in the last 24 <a rel="noopener noreferrer nofollow" title="hours" href="https://thebittimes.com/tag/hours.html">hours</a> alone, which means it has skyrocketed by nearly 10%, mimicking the growth of its largest asset, according to the information retrieved from crypto monitoring platform <em>CoinMarketCap</em><em> </em>on October 24.</p>
 <figure class="wp-block-image aligncenter is-resized"><img decoding="async" loading="lazy" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/aRULLHHv4iIoYGEEzOfTZAVU4mqY8b4oOXXC1fVllwVnkyy1KXlIIc0xqqS3Lf7j3bYqUZmT8TuWz2Bs_iZ2k3Kd6jbhijwoiacA5e9XXVNb8fhMkSoFRou4YfQmhf1Zo7yJXqt2WWEzy4hBMA9NPOA" alt width="834" height="444">
  <figcaption class="wp-element-caption"><em>Total crypto market cap 24-hour chart. Source: </em><em>CoinMarketCap</em>
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 <p class="paragraph">It is also worth noting that <em>CoinMarketCap’s </em>‘Crypto Fear &amp; Greed Index’, which relies on indicators such as price momentum, volatility, derivatives <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> composition, and CMC’s proprietary data, has turned from ‘Neutral’ on October 23 (at 55.04) to ‘Greed’ on October 24 (at 67.43), suggesting increased investor confidence.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/u0OAymS29v6kBmLG0VuxRxoUD7SHydQ2P_xP6vf9JmyMcUGZhowKZNAgq8PnkVjyGAtuzPq_-EwF32xOZA_BmzvqxVbrX9rUb_HaNfg42VckGckjRekh2CP50dycmTL8mYduzsYsGpnRN-nGU_slQdU" alt>
  <figcaption class="wp-element-caption"><em>Crypto Fear &amp; Greed Index. Source: CoinMarketCap</em>
  </figcaption>
 </figure>
 <p class="paragraph">As a reminder, the last two occasions when the crypto <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> got such a high reading this year were back in late March and mid-April, when the Crypto Fear &amp; Greed Index, as measured by <em>alternative.me,</em> reached 68 and 69, respectively, following Bitcoin’s crossing of important price thresholds, as Finbold reported at the time.</p>
 <h2 class="wp-block-heading" id="h-bitcoin-market-cap-and-price-analysis">Bitcoin market cap and price analysis</h2>
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 <p class="paragraph">At the same time, Bitcoin has increased its market cap by 12.76% in the last 24 hours, as it went from $595.79 billion to $671.83 billion – adding $76.04 billion in a single day and growing its price by 12.84% during the same time period, as the most recent data suggests.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/vrA7Qez_wtaaV3TcVkBMSMb-j_sx0rtqqqN_hEyrhE6nOBYOUOHkE_4rEL_Uoms58M1isXWc1aqAFRsVVz9BpqO8_75-wFrQxvylYikjkrRAJG_nvyA1IXQ5n5uhw6NWB6h9hMz_Rh9fFHCnZ-55f3w" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 24-hour market cap chart. Source: </em><em>CoinMarketCap</em>
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 <p class="paragraph">Meanwhile, the price of the flagship decentralized finance (DeFi) asset at press time stood at $34,472, its daily advances adding to the 21.13% gain over the previous week and the increase of 29.65% across its monthly chart, as per the latest information on October 24.</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/8IRUiopv0Vb8VGlHffSLr-9S0Ke4WMszyARHznuXth7gsr7ktKr0cR620KqIgFJTZ4k8Z48VVox4WJlXxmpkzMeLaaMvEkEtqILl0Fr--4M3TZ2W5XCupBmYUaiDIh2g7YuPNaVA5LAaLcuikwxOGR4" alt>
  <figcaption class="wp-element-caption"><em>Bitcoin 24-hour price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">All in all, should the positive sentiment in the crypto sector continue, particularly after an actual approval of a spot Bitcoin ETF, the more financial influx will it receive, and further its assets will advance compared to other, more traditional <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>s.&nbsp;</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/crypto-market-erupts-with-110-billion-surge-in-24-hours-tbt67526.html">https://thebittimes.com/crypto-market-erupts-with-110-billion-surge-in-24-hours-tbt67526.html</a></p>

Crypto market erupts with $110 billion surge in 24 hours

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