Overview of the bullish trend in the crypto market on September 29.
On Friday, September 29, the crypto market experienced a bullish trend, with positive momentum seen across the broader market. This surge in optimism indicated that investors had regained confidence in the market. Altcoins, in particular, witnessed significant gains, while the crypto market fear and greed index suggested a neutral condition in the sector.
Investor sentiment and cautiousness in the face of market volatility, along with the anticipation of key economic data.
Despite the recent gains, some investors remained cautious due to the volatile nature of the crypto industry. However, the notable price increases in various cryptocurrencies indicated that investors had brushed off concerns over recent uncertainties. Economic data, such as personal income, personal spending, and PCE, among others, scheduled for release later in the day, would be closely monitored by investors.
Price movements and gains in major cryptocurrencies, as well as the overall impact on the global crypto market.
Bitcoin, the largest cryptocurrency by market cap, approached the $27,000 mark with a 2.13% increase to $26,928.74. Ethereum also surged by 2.77% to $1,650.17, reflecting the overall optimism among traders. Other altcoins, including XRP, Cardano, Solana, Dogecoin, and Shiba Inu, also experienced gains.
The positive performance of these major cryptocurrencies contributed to a 2.02% surge in the global crypto market cap to $1.07 trillion, with a volume of $30.4 billion from the previous day.