According to Odaily, the cryptocurrency market's total valuation reached $3.44 trillion on May 28, marking a 0.47% increase from the previous day. Bitcoin (BTC) experienced a slight decline after reaching a new all-time high, attributed to profit-taking and significant trading by large investors. Despite this, BTC's price remains near its peak, supported by favorable regulatory developments and optimism regarding increased institutional adoption. Ethereum (ETH) mirrored BTC's movements, with minimal market fluctuations observed.
The market sentiment index, known as the Fear and Greed Index, stands at 68, indicating a continued presence in the 'Greed' zone. The overall long-short ratio is 1.08, suggesting a predominance of bullish sentiment. Meanwhile, altcoins have generally seen declines, with the market lacking a unified narrative or focal point.
Investors are advised to closely monitor future capital flows and shifts in sentiment.
