Ethereum

2024

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/why-is-the-crypto-market-up-today-here-are-the-top-factors/">Why is the Crypto Market Up Today? Here Are The Top Factors</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>As <a href="https://coinpedia.org/price-analysis/why-is-bitcoin-price-up-today-whats-next-for-btc-price/">Bitcoin (BTC) price crossed over the $50k mark</a> in the past 24 hours for the first time since the onset of the 2022/2023 bear market, the altcoin industry joined in the dance. According to the latest market data, the total crypto market cap gained around 4 percent to hover about $2 trillion on Tuesday during the early Asian session. </p> 
<p>The sudden crypto market bump resulted in liquidations worth nearly $200 million, with the majority consisting of short traders. Solana (SOL) network continued with its bullish dominance, gaining about 8.3 percent to trade around $114 in the past 24 hours. </p> 
<p>More gains are expected in the coming weeks after the altcoin market cap confirmed a bullish pennant breakout on the weekly time frame.</p> 
<p>Also Read : <a href="https://coinpedia.org/top-10/top-10-crypto-billionaires-in-2024/">Top 10 Crypto Billionaires in 2024</a></p> 
<h2 class="wp-block-heading" id="h-top-reasons-crypto-gained-today">Top Reasons Crypto Gained Today</h2> 
<h3 class="wp-block-heading" id="h-general-bullish-breakout">General Bullish Breakout</h3> 
<p>With the heightened demand for Bitcoin and other digital assets worldwide, as demonstrated by the high volume of the recently launched spot <a href="https://markets.coinpedia.org/bitcoin-etf/">Bitcoin ETFs</a>, the crypto market is expected to follow the traditional stock market in a bullish outlook. </p> 
<p>Moreover, several stock indexes with a high correction with crypto prices – led by the S&amp;P500 and the Dow Jones Industrial Average Index – have already risen to their respective all-time highs (ATH). According to a weekly report by CoinShares, digital assets investment products recorded an inflow of around $1.1 billion last week, led by Bitcoin, Ethereum, Cardano, and Solana.</p> 
<h3 class="wp-block-heading" id="h-heightened-demand-from-institutional-investors">Heightened Demand from Institutional Investors</h3> 
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   <p lang="en" dir="ltr">Franklin Templeton just joined the spot <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF race. <a href="https://t.co/zJvk9seXe3">pic.twitter.com/zJvk9seXe3</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1757142599016616334?ref_src=twsrc%5Etfw">February 12, 2024</a>
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<p>The approval of spot Bitcoin ETFs in the United States that have accrued more than 682k Bitcoins has inspired more fund managers to offer Ethereum-focused ETFs. On Monday, $1.5 trillion assets manager Franklin Templeton joined the Ethereum spot ETF race by applying with the US SEC. </p> 
<p>With the US SEC having a deadline of May to issue a decision on the other Ethereum spot ETF applications, market experts believe there is a high chance of inevitable approval.</p>

Why is the Crypto Market Up Today? Here Are The Top Factors

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