Today, April 28, the global market capitalization of cryptocurrencies is $ 2.93 trillion. Bitcoin BTC $94,300.23 Bitcoin 0.39% Market capitalization $1.87 trillion VOL. 24 hours $1.84 billion currently holds 63.39% of the market, trading at around $ 94,700. Ethereum ETH $1,788.49 Bridged Ether (StarkGate) -0.35% Market capitalization $0.16 billion VOL. 24 hours $0.79 billion and Dogecoin DOGE $0.18 Binance-Peg Dogecoin -2.07% Market capitalization $0.46 billion VOL. 24 hours $0.15 billion have also shown growth.
According to Coinglass, more than 97,000 traders liquidated over the past 24 hours, worth $ 176.13 million. Open interest in the market decreased by 4.62%, while the volume of liquidations increased by 2.59%. The Fear and Greed Index for the crypto market remains at 51, indicating neutral investor sentiment.
Leading crypto analyst Willie Wu noted that bitcoin’s fundamentals have returned to a bullish trend. He emphasized that capital inflows to the network are growing, and all drawdowns during the current market regime should be considered as buying opportunities. However, Wu cautioned that due to market congestion, further growth may be limited in the short term.
Analyst Michael van de Poppe added that altcoins have begun to recover from «the longest bear market in four years.» He drew attention to the increased correlation between the dynamics of the yuan and ethereum against bitcoin, indicating the growing influence of macroeconomic factors.
In his turn, crypto expert Ali Martinez said that the bitcoin accumulation trend indicator is approaching its maximum values, which indicates an active accumulation of the asset among investors. Against this backdrop, the market continues to develop, in particular due to the growth of institutional participation and calls for clearer regulation from the US SEC.