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Bitcoin Squeezes to $35.5K as 'Mini Altcoin Season' Lifts Crypto Market Cap to $1.3 Trillion

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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

Widening crypto rally lifted total cryptocurrency market cap to $1.3 trillion, its highest since May 2022.jumped to $35,500 Tuesday as the widening altcoin rally and risk-on sentiment in traditional markets lifted the total cryptocurrency market's value to a 16-month high.in the derivatives markets as the reason. At press time, bitcoin was trading at $35,600, up nearly 2% over the past 24 hours.gained 5%-10% during the same period, helped by continued capital rotation into altcoins.

At the same time, K33 pointed out, accelerating inflows into bitcoin-related funds provides support for BTC's price.

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