Cryptocurrency Market Surpasses $3 Trillion Amid Rally
- The total cryptocurrency market cap briefly exceeded $3 trillion, rising approximately 4.3% in a day.
- Bitcoin (BTC) traded at around $86,000, marking a gain of about 4.5% over the past 24 hours.
- Ether (ETH) increased by about 2.3%, reaching $2,745, while XRP rose by 5.7% to $1.53.
- Open interest in perpetual futures across crypto reached nearly $160 billion, the highest since late October.
- US spot Bitcoin ETFs attracted nearly $1 billion in inflows on Monday, the largest single-day amount since October.
The surge in market cap and Bitcoin’s price highlights increasing speculative activity within the cryptocurrency sector, as evidenced by significant liquidations of bearish positions totaling over $920 million on Monday.
As Bitcoin leads this upward trend with a notable increase in open interest and ETF inflows, the market remains dynamic and responsive to investor sentiment.(Source)
