- Bitcoin is only 3.7% shy at $ 100,000.
- The institutional inflow drives up the momentum.
- Chain metrics show a strong bullish sentiment.
The crypto market has returned to Bullish, adding nearly $ 300 billion in the market ceiling over the last two weeks. Bitcoin drives a fee, trades over $ 96,500 and at the edge of the $ 100,000, only 3.7% away. The world's best cryptocurrency temporarily exceeded Google in market capitalization, becoming the fifth most valuable financial instrument in the world.
Altcoins such as Ethereum and Solana have also shown endurance. Ethereum keeps the company over $ 1,800, with Solana staying over $ 150, strengthened by strong buying -how.
Economic changes encourage optimism
The weakening of the US economic outlook has encouraged investors' interest in the risk of assets such as crypto. The US GDP 0.3% shrinkage and the decline in consumer confidence have caused fears of the economic downturn. At the same time, the likelihood of decreasing at the June FOMC meeting has increased to 60%, increasing investors' feelings.
The employment report of the following April is likely to provide a more detailed macroeconomic landscape and may inject the financial markets in the short term volatility.
Institutional purchase and chain strength
Institutional investors have significantly increased crypto exposure. Bitcoin Spot ETFs registered an influx of $ 4.2 billion while Ethereum ETF The outflow of early April replied with $ 250 million new investments. The Solana Futures, opened, also rose to 5%, approaching it all time.
Bitcoin whales have accumulated at $ 43,100 worth of about $ 4 billion, which contributes to the decrease in market volatility and the deadline for signaling.
Chain metrics Show that 86.9% of the bitcoin in circulation is currently profit, often the forerunner of strong rallies. The momentum and the first -time buyers gather, while the income statements remain quiet, pointing to the bullish control.
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