Crypto #marketrebound : Weekly Highlights
This week, the cryptocurrency market saw a significant rebound, with major assets showing strong performance and market sentiment improving.
Top Performing Assets
Bitcoin (BTC): Surged past $90,000 for the first time since early March, boosting total crypto market cap above $2.8 trillion.
Ethereum (ETH): Climbed above $4,000, supported by $1.3 billion in ETF inflows over the past two weeks.
XRP: Despite a dip to $1.90, it posted a 237% monthly gain, driven by positive regulatory outlook.
Key Drivers
Tamed Inflation: U.S. inflation data met expectations, increasing investor confidence in risk assets like crypto.
Institutional Inflows: Massive capital inflows into Bitcoin and Ethereum ETFs, with BlackRock's IBIT hitting $50 billion AUM in just 228 days.
Regulatory Wins: Ripple's RLUSD stablecoin was approved by the NYDFS, strengthening market trust.