news 
Is the Crypto Market Ready for Recovery? Bitcoin & Altcoins Gain Momentum
The crypto market has been experiencing a tumultuous ride in recent times, with many investors and enthusiasts questioning whether it’s ready for a recovery. In this article, we will be analyzing various factors that could impact the market’s trajectory moving forward.
The current situation is quite intriguing, as the total crypto market cap has seen a massive rally of close to $3 trillion during the mid-European session on Wednesday, March 26th. This sudden surge in value can be attributed to multiple factors, including renewed interest from whale investors and the impact of macroeconomic conditions.
One major aspect that we need to focus on is the recent Bitcoin ETFs. The US spot Bitcoin ETFs have finally ended a five-week losing streak following last week’s $744 million cash inflow and an additional $111 million since the beginning of this week. This sudden change in investor sentiment has significantly reduced fear, as depicted by the BTC fear and greed index hovering at around 47% as of the writing time.
However, Santiment has cautioned investors about potential selloff amid rising bullish optimism. Additionally, their data analysis suggests that there is an increased level of bullish optimism within the crypto community.
From a technical analysis standpoint, Bitcoin’s price action is likely to continue in an upward trajectory towards the resistance range between $89k and $91k. A consistent close above this range will likely result in a further rally towards $100k or beyond, which could have a positive impact on the wider altcoin market. On the other hand, if there is a rejection at the next liquified range, we can expect a renewed correction towards $77k.
In conclusion, it remains to be seen whether this sudden surge in value will hold its ground or not.
Source: https://coinpedia.org/price-analysis/is-the-crypto-market-ready-for-recovery-bitcoin-altcoins-gain-momentum/
