Today, cryptocurrency prices have seen strong gains as investor confidence in the crypto space begins to recover. The market has been volatile since last week due to increasing regulatory concerns and other macroeconomic factors that have been pressuring sentiment.
Market experts suggest that expectations for a Bitcoin Spot ETF approval and the Federal Reserve’s stance could trigger a year-end rally in crypto markets. Bitcoin’s price has increased by 4.32% in the last 24 hours to $42,900.06, with its trading volume jumping by 38.86% to $25.97 billion. Despite recent losses, Bitcoin has seen a positive trend over the last 30 days, with an increase of over 17%.
Ethereum’s price rose by 2.82% to $2,234.73, with its trading volume also increasing by 28.54% to $10.43 billion. Concurrently, XRP‘s price climbed by 0.99% to $0.6126, and its trading volume surged by 69.36% to $1.62 billion. Reflecting the broader market trend, Solana‘s price increased by 8.28% to $75.59, while Cardano’s price went up by 6.2% to $0.6109, with a 22.90% increase in volume to $752.47 million.
In the meme token sector, Dogecoin’s price increased by 0.54% to $0.09261, with a 35.55% rise in 24-hour trading volume to $676.61 million. Another notable meme token, Shiba Inu, saw a 2.98% increase to $0.0000104, although its daily trading volume decreased by 31.41% to $282.11 million.
The overall rise in major cryptocurrency prices has further elevated global crypto markets. As of December 19, the global cryptocurrency market cap has risen by 3.64% to $1.61 trillion, and the market volume has increased by 27.08% to $64.89 billion. The crypto market’s fear and greed index was notably at 72, indicating a sense of “greed” within the crypto market.