Why is Crypto Market Going Up? Green Zone Signals Altcoin Season

Why is Crypto Market Going Up Today? Reasons Behind the Bull Run

The crypto market has been doing really well for the past few days. Since April 23, it has stayed mostly in the green zone. Today, the global crypto market cap stands at $2.97 trillion, showing a small but steady 0.39% rise in the last 24 hours.

Source: CoinMarketCap

At the same time, trading activity has picked up too. The total trading volume over the last day is about $99.57 billion, which is a 9.50% jump. Among this, DeFi trading volume is around $7.33 billion, making up 7.37% of the overall market activity. Also, stable coins continue to dominate, accounting for about 94.42% of the total 24-hour trading volume.

Bitcoin’s dominance is currently 63.27%, up by 0.03% compared to the previous day.

Why is Crypto Market Going Up Today?

SEC Chair’s Positive Remarks: One big reason behind the sector boost is recent news from the U.S. Securities and Exchange Commission (SEC). In a roundtable event called “Know Your Custodian” held on April 25, newly appointed SEC Chair Paul Atkins made some strong positive comments about blockchain technology.

Atkins said he sees "huge benefits" in using blockchain for making things faster, safer, cheaper, and more transparent. He also shared that the SEC under his leadership would aim to create clear rules for digital assets. This came as a breath of fresh air, especially after many traders felt that the old leadership under Gary Gensler made crypto regulations very confusing.

Atkins further stated that he will collaborate with the Trump administration and Congress to establish an improved mechanism for digital assets. This development put a majority of investors at ease, resulting in an increase in coin prices.

Big Money Coming In Through Spot ETFs: Another reason for the market surge is the good inflow of funds into Spot Bitcoin and Ethereum ETFs.

As of April 25:

• Bitcoin ETFs also experienced a net daily inflow of $379.99 million, taking total cumulative inflows to $38.43 billion.

Source: SoSoValue

• Ethereum ETFs had a daily net inflow of $104.16 million, with cumulative inflows reaching $2.40 billion.

Simply put, more money is being invested in Bitcoin and Ethereum via these new investment instruments. This indicates increased faith in crypto as an investment option.

Memecoin Rally: While Bitcoin and Ethereum are taking the lead, memecoins are also experiencing a healthy rally. 

• Coins like Bonk (on Solana) have jumped about 17% in just one day and are now trading at $0.00001905.

• Official Trump Coin surged 17% over the week and is now at $15.82.

•  Even Pepe Coin is up by 5% in a day, hovering around $0.000009396.

This memecoin frenzy is injecting additional hype into the entire industry.

Fear and Greed Index Indicates Increasing Greed: The Fear and Greed Index has moved from fear to greed in a very short time.

This increasing level of greed indicates that investors are now much more optimistic and are ready to purchase more crypto assets.

What's Next for the Crypto Market?

Currently, the market is appearing strong and upbeat. With encouraging statements from the SEC, heavy investment via ETFs, and a new rally in memecoins, coin prices might keep rising if the momentum persists.

However, experts suggest staying careful. High greed can sometimes lead to sudden corrections. It is important for investors to watch the news, sector signals, and overall global trends to make smart decisions in the coming days.

Conclusion

The crypto market is surging because of positive SEC news, heavy ETF investments, a memecoin rally, and growing investor confidence. If everything stays stable, the industry might continue this upward journey, but caution is still important.