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Crypto Market Today (Dec 21, 2024): Bitcoin Price Rises to $97k | HYPE Surges 34%
The crypto market has seen a significant surge today as the price of Bitcoin rises to an astonishing $97,569.12, showcasing a 0.30% gain over the past 24 hours. The optimism in the market is palpable, with trading volumes also surging by 10.25% to reach $291.27 billion.
The fear and greed index has signaled a “Greed” sentiment in the market, indicating that investors are becoming increasingly optimistic about the future of cryptocurrencies. This surge could be attributed to Metaplanet Inc.’s monumental investment of $61 million, which they will utilize to fast-track their Bitcoin acquisitions.
As the market recovers from losses over the past 48 hours, the overall market capitalization has increased by a substantial 1.34% in just one day, reaching an impressive $3.4 trillion.
In the altcoin space, Ethereum showed immense resilience and outperformed Bitcoin with a remarkable 2.91% price hike to $3,490.85, outpacing its dominant counterpart. Solana and XRP also saw modest gains of 1.27% and 0.65%, respectively.
On the other hand, some tokens have not been as fortunate today. APTOS plummeted by a significant 12.22% to $10.28, while XMR fell by 5.93% to $189.13, and OM declined by 3.65% to $3.85.
In conclusion, the crypto market is showing signs of intense optimism as Bitcoin’s price rises to new heights and trading volumes increase dramatically. It seems that investors are unwavering in their confidence, driving the overall sentiment to a “Greed” state according to the fear and greed index.
It remains to be seen whether this momentum can be sustained in the long run or if it’s merely a short-term correction. One thing is certain, however – the market is undoubtedly experiencing a resurgence, with many tokens seeing significant gains.
For further updates on the crypto market, keep an eye out for our upcoming articles and stay informed about the latest developments.
Source: coinpedia.org
