Crypto Climbs Back to January Highs
The cryptocurrency market added a mere 0.7% in 24 hours, but an important 5% in seven days to $3.5 trillion. This increase is important as it falls in the area of the market peaks reached in December and January.
The sentiment index jumped to 78, last seen in January, confirming a similar situation to what we saw earlier in the year.
Bitcoin repeated highs on Thursday evening, rising to $111.8k and pulling back slightly to $110.5k by Friday morning. The rise was attributed to the advancement of stablecoin legislation, capital inflows into 12 U.S. ETFs of about $4.2 billion in May, purchases by Strategy, which has accumulated more than $50 billion worth of tokens, and U.S. fiscal concerns. Unlike previous BTCUSD rallies, the…
