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Crypto market explodes with growth

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Entries Now Open For The 11th Savanna Comics’ Choice Comedy Awards:…Cryptocurrency growth. Photo source: Pixabay.

Bitcoin opened Tuesday with a jump to $35.2K, a level not seen since May 2022. The first cryptocurrency’s dominance index exceeded 52%, the highest since April 2021. The $31K to $46K range is an area of thin air with not many obstacles. The market blew it down quickly last year, and it is worth being ready to mirror the move this time around.According to CoinShares, investments in crypto funds rose by $66 million last week, the fourth consecutive week of inflows. Bitcoin investments increased by $55 million, while Ethereum investments decreased by $7.4 million. Investment in Solana increased by $15.5 million, significantly outperforming all altcoins.

Bernstein said that the SEC’s approval of the Bitcoin ETF could act as a powerful catalyst for the start of a new bull cycle in the cryptocurrency market. For the first time in the history of cryptocurrencies, institutional investors have a chance to enter the market before the massive hype begins.

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