Why is the crypto market up today? Bitcoin, Ethereum lead gains

has risen by over 7% in the past 24 hours. All major assets have experienced substantial gains during this time. Why is the crypto market up today?This surge is driven by the rising prices of top crypto assets, which have significant market capitalizations.The market was experiencing positive sentiment at press time, with the Fear and Greed Index at 70, indicating a state of “greed.”This positive sentiment stems from recent actions by regulators and institutions submitting ETF proposals.

The approval of an ETH ETF is seen as a significant win, not only for Ethereum but for other crypto assets as well. Many believe that once an ETH ETF is approved, other cryptocurrencies will also have a better chance of obtaining spot ETF approvals.According to CoinMarketCap data, Bitcoin commanded over 53% of the total cryptocurrency market capitalization at press time.On 20th May, the king coin experienced an almost 8% increase, closing at approximately $71,400. As of the current writing, it is trading at around $71,100, marking a negligible decrease of less than 1%.

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