一般来说，当市场处于极度贪婪状态时，它反映出一种高度看涨的情绪，投资者表现出明显的乐观情绪和承担风险的意愿。然而，从历史上看，如此高的水平可能预示着潜在的过热，因为市场可能正在接近局部顶部或调整期。The cryptocurrency market has risen 4.34% over the past 24 hours to reach a market cap of $3.31 trillion. This surge coincided with a significant increase in trading volume, which surged 30.98% to $248.9 billion. As Bitcoin nears $100,000 and the ongoing reforms of the U.S. Securities and Exchange Commission. Gary Gensler has stepped down as chairman, and investors are still keen on market developments.
“Extreme greed” pushes cryptocurrency market capitalization to a new high
The cryptocurrency market is still trending upward, with total market capitalization up 4% in the past 24 hours. During early Friday trading, the total market capitalization climbed to a record high of $3.27 trillion, then declined slightly. At the time of writing, the total market capitalization was $3.24 trillion.
While such a high market cap indicates active trading activity, the Cryptocurrency Fear and Greed Index readings suggest a possible correction in the short term. At press time, the index was 94, indicating extreme market greed.
Generally speaking, when the market is in a state of extreme greed, it reflects a highly bullish sentiment, and investors show clear optimism and willingness to take risks. Historically, however, such high levels may indicate potential overheating, as the market may be nearing a partial top or a period of adjustment.
If the bullish momentum wanes, Total could drop to $2.93 trillionsSupport level. A break below this support level will cause Total to drop further towards $2.66 trillion.
Bitcoin hits a new high above $99,000, and its dominance remains strong
The price of Bitcoin once reached an all-time high (ATH) of $99,314.95, then fell slightly to $99,011.98, a daily increase of 1.25%. BTC's 24-hour trading volume reached $97.5 billion, up 13.17%. Bitcoin's dominance remains stable at 59.24%, and the total inflow to Bitcoin ETFs reached 0.397 billion US dollars, boosting market sentiment.
Altcoin Watch: Solana and XRP shine
Ethereum rose slightly, rising 0.19% to $3,394.18. The Solana ecosystem and price tag stole the limelight, hitting a record high of $262.58 and closing with an impressive 8.90% increase. XRP also made headlines, rising 25.33% to $1.40.
The stocks that have risen the most and lost the most
Among the top performing currencies, FTX Token (FTT) led the way, surging 41.35% to $2.83. Mog Coin followed, rising 33.35% to $0.0000002925, and XRP ranked third with a 25.33% increase.
In contrast, Bitcoin SV (BSV) lost the most, falling 10.73% to $68.73. PNUT and eCash followed, falling 10.08% and 9.21%, respectively.
Will this momentum continue or face resistance as the cryptocurrency market rebounds?
