The crypto market comes to life

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Vivaldi Day: it’s all about youThe crypto market cap rose 4.5% over 24 hours to $2.56 trillion, roughly where it was a week ago, with an active rally over the last three days.

Bitcoin rose to $67.1K, a third day of strength from an area near the 61.8% Fibonacci retracement of the rise from the January lows to the March highs. The correction from the peak has removed overbought conditions on a daily timeframe, making room for growth and easing the psychological impact on potential buyers as many are more comfortable buying the asset after a drawdown.

Retail traders have temporarily lost interest in bitcoin, according to Zaye Capital Markets. With the halving approaching, BTC could see a major correction and fall below $50K. The SEC delayed a decision on Grayscale’s Ethereum futures ETF until 30 May, citing the need for more time to review it.

 

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