Sentiment Trading

The Bloomberg Galaxy Crypto Index has reached a 20% decline from its 52-week high, but remains above its low, reflecting a surge in institutional activity and investment in the cryptocurrency sector.

The crypto market is experiencing turbulence due to regulatory moves, high-profile lawsuits, and record-breaking Bitcoin prices, with the SEC taking a proactive stance and the market’s future hanging in the balance.

Ripple’s $5 billion bid to acquire Circle was rejected, but the news has boosted optimism for XRP’s potential approval as a US-based ETF, with approval odds surging to 85%.