Bitcoin and Ethereum Demonstrate Safety as the Global Crypto Market Rallies

The global crypto market is up by 2.76% and is rallying at $2.17 trillion. The FGI is at 40 points, with fear sentiments largely prevailing across the sphere.

The global crypto market is up by 2.76% and is rallying at $2.17 trillion. The Fear and Greed Index (FGI) is at 40 points, indicating that fear sentiments are still prevailing across the crypto sphere.

It is right to assume that this is the time when everyone is optimistic about their digital assets, especially with Bitcoin ($BTC) leading the charge as a flagship crypto. Bitcoin and Ethereum (ETH) are closer to hitting another milestone as the regulatory body prepares to announce Spot Ether ETF approval.

Bitcoin and Ethereum demonstrate safety

Bitcoin is closer to $60,000 and is exchanging hands at $59,093.16 at press time. This serves as a proof that BTC is not entirely lost in the darkness of bears. It was earlier hovering around $54,000, and the speculation was that it would hit another winter ahead of Spot Ether ETF approval.

However, BTC has managed to perform better than expected, and now everyone is waiting for another big announcement. Bitcoin gained 3.18% in a single day, while ETH trailed behind.

Earlier reports claimed that ETH would perform better than BTC in a day, but the picture has changed amid reports of delays. It is currently exchanging hands at $3,116.94.

Top meme coins are back in action

Dogecoin (DOGE) is down to 9th position with a market cap of over $15 billion. It gained around 1.86% in a single day but has fallen by more than 9% in a week. Shiba Inu (SHIB) is inching closer to breaching the $10 billion market cap.

The bridge is not that wide anymore; however, SHIB still has a lot to do. Notably, Dogecoin gaining momentum will force SHIB to chase the target unstoppably.

DOGE is listed at $0.109, and SHIB is exchanging hands at $0.00001674 at press time. Pepe (PEPE) remains at the center of the stage, as the world expects it to outperform top meme coins once again. It has plummeted by 0.04% over the last 24 hours, with an increase of 1.01% in the last hour.

Other gainers and losers

XRP is aiming to surpass $1 by the end of this year and has gained 1.33% in the last 24 hours and fell by 0.23% in the last 1 hour. The decline is less significant in comparison to the gain, but the picture is more or less consistent, considering it has fallen by 0.23% in the last 1 hour.

Solana (SOL) may eventually get past the $150 mark and has gained 2.54% in one day and shed almost 0.37% of its weight in an hour. WIF is above $1, with a jump of 1.49% in the last 24 hours and 0.11% in the previous hour.

What continues to hit dogwifhat the most is its fall of 15.03% in the last 1 week. Floki (FLOK) has a tough task of keeping up with the momentum it has built so far in a trading day. The token has gained 3.55% before plunging by 1.38% in the last hour.

There are gainers and losers in the crypto market, which Bitcoin and Ethereum largely dominate. BTC leads the charge as a flagship token, while Ether is the next contestant for the ETF.

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