The crypto market witnesses a $1.74 trillion valuation as Bitcoin surpasses $45K, driven by ETF speculation and optimism ahead of the April halving. Gains in the top ten cryptos, short liquidations, and potential ETF approval shape the current landscape.
The digital currency market, valued at $1.74 trillion, experienced a 4.65% surge in the last 24 hours, with Bitcoin crossing the $45K mark. This upward momentum is fueled by anticipation surrounding the potential approval of a spot Bitcoin ETF. Bitcoin’s dominance at 50.8% of the market and Ethereum’s 16.5% contribute to the overall crypto economy. The recent surge triggered approximately $84 million in short liquidations, notably impacting Ethereum and Solana.
Bitcoin and Ethereum recorded gains of 6.4% and 4%, respectively. Noteworthy performers include Solana, seizing an 8% lead. Conversely, bitcoinsv, helium, and maker saw slight losses despite the overall market rise. As the market eagerly awaits the potential approval of a spot Bitcoin ETF in the U.S., optimism prevails, aligning with the upcoming April halving, promising further value boosts. This positive outlook is underpinned by regulatory advancements and technological progress in the crypto space.