Crypto News: Why Is the Crypto Market Up Today? Short Squeeze, Trade War Optimism, and Technical Breakout Drive Rally
AI Summary
Total Market Cap Rises 6.7% as Bitcoin Hits $94K and Ethereum Surges 13%
The crypto market is surging today, fueled by a combination of macroeconomic relief, massive short liquidations, and a bullish technical breakout in total market capitalization.
As of April 23, the total crypto market cap has risen 6.7% to $2.94 trillion, led by a strong rally in Bitcoin (BTC) and Ethereum (ETH), which are up 6.4% and 13% respectively. Market analysts point to three key drivers behind the rally: