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The cryptocurrency market sees a slight increase amid regulatory optimism
According to Odile, the total market valuation of cryptocurrencies reached $3.44 trillion on May 28, representing a 0.47% increase from the previous day. Bitcoin (BTC) experienced a slight decline after reaching its all-time high, attributed to profit-taking and large trades by major investors. Nevertheless, BTC's price remains close to its peak, supported by positive regulatory developments and optimism regarding increased institutional adoption. Ethereum (ETH) mirrored BTC's movements, noting slight market fluctuations.
The market sentiment index, known as the fear and greed index, stands at 68, indicating a continued presence in the 'greed' zone. The overall buy and sell ratio is 1.08, suggesting a dominance of bullish sentiment. At the same time, alternative coins generally experienced declines, with the market lacking a unified narrative or focal point.
Investors are advised to closely monitor future capital flows and changes in sentiment.
