{"id":249039,"date":"2024-02-17T11:23:35","date_gmt":"2024-02-17T05:53:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/crypto-market-cryptocurrency-marketcap-close-to-2t-whats-next-crypto-news\/"},"modified":"2024-02-17T11:23:38","modified_gmt":"2024-02-17T05:53:38","slug":"crypto-market-cryptocurrency-marketcap-close-to-2t-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-market-cryptocurrency-marketcap-close-to-2t-whats-next-crypto-news\/","title":{"rendered":"Crypto Market : Cryptocurrency Marketcap Close to 2T, What&#8217;s Next? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"intro\">\n<p><span style=\"font-weight: 400;\">The entire cryptocurrency market performance has recently experienced a bull run, conciding with the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-prices-today-bitcoin-at-52k-xrp-ada-rally-as-pepe-dips\/#:~:text=Major%20Crypto%20Prices%20Today,in%20the%20last%2024%20hours.\"><span style=\"font-weight: 400;\">soaring of Bitcoin value<\/span><\/a><span style=\"font-weight: 400;\">. The market is shaped by various factors such as competition, regulation, sentiment , adoption and innovation, among others. The crypto market cap is the total value of all digital assets in circulation. The current total global market cap is approaching $2 trillion, sparking speculation about what lies ahead.\u00a0<\/span><\/p>\n<p><b>Crypto Market Overview<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The total global cryptocurrency market cap is reporting $1.96 trillion today, experiencing a 0.3% increase over the last 24 hours, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/charts\/\">CoinMarketCap<\/a>. The total market volume has sored 0.86% to $86.84. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/defi-decentralized-finance\/#:~:text=Instead%20of%20fiat%2C%20the%20transactions,built%20on%20the%20Ethereum%20blockchain.\"><span style=\"font-weight: 400;\">Decentralized finance (DeFI)<\/span><\/a><span style=\"font-weight: 400;\"> claims 8.15% of the total crypto market volume, contributing $7.08.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">On the other hand, stable coins account for 91.2% of the total market volume at $79.2 billion. Bitcoins dominates the crypto market claiming 52.28% of the entire market cap, though experiencing a slight decrease of 0.29% over the day.<\/span><\/p>\n<figure id=\"attachment_180820\" aria-describedby=\"caption-attachment-180820\" style=\"width: 1081px\" class=\"wp-caption aligncenter\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-180820\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-16-at-18.03.25.png\" alt=\"Cryptocurrency market performance chart\" width=\"1081\" height=\"470\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-16-at-18.03.25.png 1081w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-16-at-18.03.25-300x130.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-16-at-18.03.25-768x334.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2024\/02\/Screenshot-2024-02-16-at-18.03.25-150x65.png 150w\" sizes=\"auto, (max-width: 1081px) 100vw, 1081px\"\/><\/noscript><figcaption id=\"caption-attachment-180820\" class=\"wp-caption-text\">Cryptocurrency market performance chart<\/figcaption><\/figure>\n<p><b>Bitcoin\u2019s Resilience and Market Cap Milestone<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin, the leading cryptocurrency, is <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/blog\/bitcoin-price-is-halfway-to-100k-whats-next\/\"><span style=\"font-weight: 400;\">halfway to the $100 mark<\/span><\/a><span style=\"font-weight: 400;\">, hovering around $52,000 following a broad rally in the cryptocurrency market. This surge has also propelled Ether, the second-largest token, back to its pre-TerraUSD collapse levels, with Bitcoin\u2019s year-to-date gain reaching an impressive 113.15%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Moreover, the <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20%241%2C013%2C764%2C204%2C617.\"><span style=\"font-weight: 400;\">bitcoin price<\/span><\/a><span style=\"font-weight: 400;\"> surge lifted the market capitalization of the rest of digital assets close to $2 trillion for the first time since April 2022. Despite minor fluctuations, Bitcoin and Ether have recorded gains of 0.2% and 1.5%, respectively, with Ether trading at $2,844.14. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/bitcoin\/#:~:text=Live%20Price%20of%20Bitcoin%20(BTC,market%20cap%20stands%20at%20%241%2C013%2C764%2C204%2C617.\"><span style=\"font-weight: 400;\">Ethereum price <\/span><\/a><span style=\"font-weight: 400;\">has recovered reaching its highest peak since August 2022, touching the $2,100 level in mid-April 2023.<\/span><\/p>\n<p><b>Shifting Market Sentiment<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The overall sentiment in the crypto market has transitioned from \u201cfear\u201d to \u201cneutral\u201d and, more recently, to \u201cgreed.\u201d Bitcoin\u2019s exceptional rise since October 2023, coupled with specific sector-specific factors such as the debut of United States <\/span><span style=\"font-weight: 400;\">exchange traded funds (ETFs)<\/span><span style=\"font-weight: 400;\"> dedicated to the token, has contributed to this shift. These ETFs, initiated by major financial institutions like BlackRock and Fidelity Investments, have collectively attracted a net inflow of US$3.9 billion since their launch on January 11. Additionally, the anticipation surrounding the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/bitcoin-halving\/\">Bitcoin halving<\/a> scheduled for April adds further support, as historical data suggests a potential boost to prices.<\/span><\/p>\n<p><b>Crypto Market Challenges<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Despite the market\u2019s bullish momentum, challenges persist. The crypto industry remains susceptible to high volatility, regulatory uncertainties, and intense competition. Recent developments, such as Binance Chief Changpeng Zhao <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/court-accepts-former-binance-ceo-czs-guilty-plea-what-next\/#:~:text=Judge%20Richard%20Jones%20of%20the,money%20laundering%20(AML)%20laws.\"><span style=\"font-weight: 400;\">pleading guilty<\/span><\/a><span style=\"font-weight: 400;\"> to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/anti-money-laundering-aml\/\">anti-money laundering<\/a> violations, underscore the regulatory scrutiny facing the sector.<\/span><\/p>\n<p><b>Looking Ahead<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Several factors will influence the course of the cryptocurrency market. <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-market-this-week-what-to-expect-from-cpi-ppi-other-key-data\/\"><span style=\"font-weight: 400;\">The Federal Reserve\u2019s<\/span><\/a><span style=\"font-weight: 400;\"> decision to pause its rate hike cycle in June 2023, coupled with global inflation concerns, could drive further interest in cryptocurrencies as alternative assets. Additionally, ongoing regulatory developments and macroeconomic trends will shape investor confidence and market dynamics.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">current technical analysis<\/span><span style=\"font-weight: 400;\"> of the cryptocurrency market presents a mixed picture, with some indicators suggesting potential overbought conditions while others indicate a short-term bearish sentiment. Moving averages predominantly show a buy signal, indicating a positive trend supported by indicators like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/simple-moving-average-how-to-leverage-it-in-crypto-market\/\">SMA<\/a>. The MACD Level also provides a buy signal, reinforcing upward momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, there are indications of a slowdown in market momentum, as suggested by the Momentum oscillator. The approaching 2 trillion total cryptocurrency market cap could act as a significant psychological resistance level, potentially triggering increased volatility or a market correction.<\/span><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The entire cryptocurrency market performance has recently experienced a bull run, conciding with the soaring of Bitcoin value. The market is shaped by various factors such as competition, regulation, sentiment , adoption and innovation, among others. The crypto market cap is the total value of all digital assets in circulation. The current total global market [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":206249,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-249039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/249039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=249039"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/249039\/revisions"}],"predecessor-version":[{"id":249040,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/249039\/revisions\/249040"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/206249"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=249039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=249039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=249039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}