The cryptocurrency market saw a tentative rebound on Friday morning, with major digital assets trading in the green. Bitcoin made a partial recovery from its recent low and reached $43,000, showing a 160% increase from a year ago.
This positive sentiment can be attributed to the growing excitement surrounding the potential approval of spot Bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). The SEC recently held discussions with officials from major security exchanges, and Grayscale, one of the Bitcoin ETF applicants, filed its Form 8-A with the federal regulator.
Bitcoin’s price increased by 1% over the last 24 hours to $43,632, with its market cap rising to $854.7 billion. Ethereum also gained nearly 0.46%, trading at $2,249 with a market capitalization of $270.3 billion.
Other tokens like Tether (USDT), BNB, and Solana (SOL) also experienced price increases, while XRP, USDC, Cardano (ADA), and AVAX saw slight decreases. Dogecoin and Shiba Inu, popular meme coins, had modest gains.
The global crypto market rose over 1% to reach $1.66 trillion, while the fear and greed index level stood at 70, indicating greed.
Pepe Coin Price Drops
The price of Pepe Coin declined by more than 0.2% over the last 24 hours to $0.000001213. Its market cap stood at $508.6 million, and trading volume decreased by 50% to $92.8 million.
Aptos (APT) Price Rallies Nearly 16%
The native token of the Aptos blockchain, APT, rallied nearly 14% in the past 24 hours. It reached $10.49, with a market cap of $3.2 billion. Trading volumes surged by 118% to $706.5 million.
Arbitrum (ARB) Trading in Red
The price of Arbitrum declined by 3.9% over the last 24 hours to $1.91. Its market cap was $2.43 billion, and trading volumes dropped by 50% to $1.6 billion.
Hot Take: Cryptocurrency Market Shows Signs of Recovery
The cryptocurrency market showed signs of recovery as major digital assets traded in the green. Bitcoin’s partial recovery and the anticipation of SEC approval for Bitcoin ETFs contributed to the positive sentiment. Ethereum and other tokens also experienced price increases, indicating renewed investor confidence in the crypto market.
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