The cryptocurrency market is up over 3% in the last 24 hours, reaching a value of nearly $2.5 trillion

The cryptocurrency market has been reacting to the recent failed assassination attempt on pro-crypto US presidential candidate Donald Trump.

The cryptocurrency market rose over 3% on Monday evening, reaching a value of nearly $2.5 trillion in the early European session on Tuesday. The Bitcoin (BTC) price rose nearly 3% in the last 24 hours to reach $65,000 before falling back towards $64.4,000 at the time of writing. As a result of this rise, Bitcoin price regained both the 50-day and 200-day Moving Averages (MA), known as the critical support level. This remarkable recovery in Bitcoin price brought along the entire altcoin sector, led by Ethereum (ETH), Solana (SOL), RNDR coin and BNB.

Cryptocurrency market reacts to failed assassination attempt on pro-crypto US presidential candidate Donald Trump

Cryptocurrencies are on the rise. As the Bitcoin price rose above $64,000, the fear and greed index jumped to around 65%, indicating greed. Notably, US spot Bitcoin ETFs, led by BlackRock's IBIT, recorded inflows of more than $300 million on Monday, following cash inflows of over $1 billion last week. In other news, the US Securities and Exchange Commission (SEC) is said to have given the green light to some spot Ether ETF issuers to begin trading by Tuesday, July 23.

Santiment: Watch RNDR coin, AAVE and MKR ahead of Ethereum ETF

Over the last few months, the altcoin sector has presented a window of opportunity for long-term investors. However, most analysts, led by veteran trader Peter Brandt, believe that the crypto sector is about to enter a euphoric phase after experiencing a 20-40% correction in the last four months. According to cryptocurrency intelligence platform Santiment, investors should pay attention to altcoins with increased address activity to maximize their potential returns. Santiment identified Render (RNDR), Aave (AAVE), and Maker (MKR) as the most promising altcoins that have shown significantly increased address activity recently.

"Render (RNDR), Aave (AAVE), and Maker (MKR) are the three most notable altcoins seeing address activity rises the past couple of days amongst the many market cap rises. Historically, rising levels of wallets interacting on networks is a sign of future bullish behavior." pic.twitter.com/N60Uxn4XSU

The cryptocurrency market has been in an upward trend lately. Both positive technical indicators and positive developments from the USA were effective in this rise. Bitcoin exceeding its 50- and 200-day moving averages and increasing interest in US spot Bitcoin ETFs gave confidence to the market. In addition, the news about the approval of spot Ether ETFs in the USA also excited investors. However, experts urge investors to be cautious. Although experienced traders such as Peter Brandt say that the market may be about to enter an exuberant phase, they emphasize the need for caution. Investors should not lose themselves in the rising market and should always pay attention to risk management.

To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel

The above is the detailed content of The cryptocurrency market is up over 3% in the last 24 hours, reaching a value of nearly $2.5 trillion. For more information, please follow other related articles on the PHP Chinese website!