Crypto market nears milestone

Over the previous week, the crypto market cap has climbed 7.5%, stabilizing below $3 trillion. This is a strong consolidation of strength before the 200-day moving average. Overcoming this line will attract significant active funds, an important benchmark. A confident return above $3 trillion can boost buyer activity.

In the week, the Cryptocurrency Fear and Greed Index moved out of fear and into greed, reaching 60. From late February until mid-week, the index didn't exceed 50. A comeback from dramatic lows frequently indicates additional gains.

Bitcoin has entered the bull market. While hovering around $95k, the price has confidently exceeded the 50- and 200-day moving averages and recent local highs. Thus, the decline ended. This frequently leads to market growth among more altcoins.

Last week, CoinShares reported $3.423bn in global crypto fund investment, the biggest since mid-December 2024 and the third largest ever. Investments in Bitcoin gained $3.188bn, Ethereum $183m, XRP $32m, and Sui $21m, while Solana declined $6m.